Mizuho Securities analyst Paul Fremont reiterated a Hold rating on El Paso Electric Company (NYSE: EE) today and set a price target of $58. The company’s shares opened today at $61.20, close to its 52-week high of $61.85.
According to TipRanks.com, Fremont is a 4-star analyst with an average return of 5.5% and a 69.1% success rate. Fremont covers the Utilities sector, focusing on stocks such as Edison International, Entergy Corp, and FirstEnergy.
The word on The Street in general, suggests a Hold analyst consensus rating for El Paso Electric Company.
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Based on El Paso Electric Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.01 million. In comparison, last year the company had a net profit of $35.92 million.
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El Paso Electric Co. engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power.
