Breaking Finance News

Bank of America (Merrill Lynch) downgraded El Paso Electric Company (NYSE:EE) from Buy to Neutral in a report released today.

Bank of America (Merrill Lynch) has downgraded El Paso Electric Company (NYSE:EE) from Buy to Neutral in a report released on Wednesday November 22, 2017.

Previously on 10/24/2017, Bank of America (Merrill Lynch) reported on El Paso Electric Company (NYSE:EE) increased the target price from $0.00 to $62.00. At the time, this indicated a possible upside of 0.08%.

Just yesterday El Paso Electric Company (NYSE:EE) traded 0.09% higher at $59.60. El Paso Electric Company’s 50-day moving average is $56.12 and its 200-day moving average is $53.51. The last closing price is up 7.27% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.01% over the same time period. 107,443 shares of EE traded hands, down from an average trading volume of 189,454

Recent Performance Chart

El Paso Electric Company (NYSE:EE)

El Paso Electric Company has 52 week low of $43.50 and a 52 week high of $58.70 with a PE ratio of 20.74 and has a market capitalization of $0.

In addition to Bank of America (Merrill Lynch) reporting its stock price target, a total of 3 brokers have issued a research note on the company. The average stock price target is $40.42 with 1 broker rating the stock a strong buy, 0 brokers rating the stock a buy, 2 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.

Brief Synopsis On El Paso Electric Company (NYSE:EE)

El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW). The Company's energy sources consists of nuclear fuel, natural gas, coal, purchased power and generated by Company-owned solar photovoltaic panels. As of December 31, 2016, the Company had power purchase agreements for 107 MW from solar photovoltaic generation facilities. As of December 31, 2016, the Company served approximately 411,100 residential, commercial, industrial, public authority and wholesale customers. The Company distributes electricity to retail customers principally in El Paso, Texas and Las Cruces, New Mexico.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *