El Paso Electric's Regulatory Environment Is Working Against It
Tristan R. Brown
Tristan R. Brown
Mon, Jul. 25, 5:40 AM
Fri, May 27, 5:53 AM
Wed, May 4, 6:52 AM
Tue, May 3, 5:30 PM
- AFAM, ARCC, ARCO, ARQL, ASC, ATRO, AVA, AYR, BDC, BUD, CDW, CHH, CLH, CPK, CRK, CRL, CRTO, CRZO, CSTE, D, DLPH, DNOW, ECYT, EE, ENR, FUN, GEL, GNRC, GTE, HAIN, HE, HFC, HSC, HSNI, HTWR, HYH, ICE, INXN, IONS, IRT, KATE, KLIC, LGND, MEMP, MFA, MMP, MOS, MPW, MTOR, NBL, NGS, NJR, NRZ, NVMI, NXTM, OMF, ONCE, ORBK, PCG, PCLN, RDC, RDS.A, SBGI, SCMP, SE, SERV, SHOP, SMP, SPAR, SR, SRE, SSTK, STRA, TGH, TGI, TMHC, TREE, TWX, VIRT, VOYA, VSI, WD, WIX, ZTS
Thu, Mar. 24, 3:25 PM
- El Paso Electric (EE +1.7%) is upgraded to Hold from Underperform with a $44 price target while PNM Resources (PNM +0.2%) is downgraded to Hold from Buy with a $34 target at Jefferies.
- The firm raises EE, seeing the stock as fairly valued trading at a 5% discount to the group average P/E multiple given the two pending rate cases in Texas and New Mexico; while the New Mexico case will be delayed another month, a final settlement in Texas should be filed in the next week or two.
- Jefferies cites New Mexico regulatory concerns in downgrading PNM, as the decision earlier this month to delay the in-service date of new rates adds a risk to 2016 earnings; PNM plans to file a second rate proceeding later this year that could extend the regulatory overhang another 12 months.
Wed, Feb. 24, 6:52 AM
Tue, Feb. 23, 5:30 PM
Thu, Jan. 28, 2:32 PM
- El Paso Electric Co. (NYSE:EE) declares $0.295/share quarterly dividend, in line with previous.
- Forward yield 3.01%
- Payable March 31; for shareholders of record March 15; ex-div March 11.
Dec. 15, 2015, 9:50 AM
- El Paso Electric (EE +0.2%) appoints Mary Kipp as its new CEO, succeeding Thomas Shockley, who is retiring as CEO but will remain on the board.
- Kipp has served as EE's President since September 2014 and has been with the company since 2007.
- Shockley has been CEO since 2012; he had retired in 2004 after a lengthy career in the regulated utility industry.
Dec. 4, 2015, 4:41 PM
- El Paso Electric (NYSE:EE) declares $0.29/share quarterly dividend, in line with previous.
- Forward yield 3.19%
- Payable Dec. 30; for shareholders of record Dec. 15; ex-div Dec. 11.
Nov. 4, 2015, 6:52 AM
- El Paso Electric (NYSE:EE): Q3 EPS of $1.40 beats by $0.20.
- Revenue of $209.39M (+7.4% Y/Y)
Nov. 3, 2015, 5:30 PM
- AFAM, AGN, AMRN, ARCC, ARCO, ARQL, ARRY, AVA, AVP, AXAS, BDX, BIOS, BSFT, CBB, CDW, CECO, CHK, CLH, CRK, CRL, CRTO, CRZO, CST, CSTE, CTSH, DAVE, DDD, EE, EMES, FOR, FOXA, GDP, HAE, HEP, HMC, HSIC, HSNI, INXN, KELYA, KORS, LINC, LL, MEMP, MFA, MNTA, MSI, MWE, NAVB, NCT, NEWP, NRG, NYLD, REGN, SBGI, SCMP, SE, SHOP, SNH, SODA, SSYS, STNG, TESO, TMHC, TWX, USAK, VG, VOYA, VRTU, VSI, WCG, WD, WEC, WEN, WILN, WIX, WMC
Aug. 5, 2015, 8:37 AM
- El Paso Electric (NYSE:EE): Q2 EPS of $0.52 misses by $0.08.
- Revenue of $157.9M (-3.7% Y/Y)
Aug. 4, 2015, 5:30 PM
- AMSC, ANSS, ARIA, ARQL, ATHM, ATRO, AVA, AVT, BLT, CEQP, CHK, CLDT, CLH, CMLP, CONE, CRK, CRME, CSTE, CSTM, CTSH, D, DAVE, DISCA, DISH, DNOW, DNR, EE, ENBL, FI, GDP, GTN, HCA, HFC, HSC, ICE, INXN, KATE, KELYA, KERX, LDOS, LG, LINC, LIOX, LL, LPLA, MEMP, MSI, MSO, MWE, PCLN, PWR, RDC, RL, SALE, SBGI, SCMP, SE, SNAK, SODA, SPAR, SPB, SUP, TMHC, TWX, USAC, VC, VLP, VOYA, VSI, WCG, WD, WEN, WIX
Jul. 23, 2015, 4:47 PM
- El Paso Electric (NYSE:EE) declares $0.295/share quarterly dividend, in line with previous.
- Forward yield 3.39%
- Payable Sept. 30; for shareholders of record Sept. 16; ex-div Sept. 14.
Jun. 10, 2015, 9:57 AM
- PJM Interconnection, the largest U.S. electricity grid, wins approval from U.S. regulators for a plan to increase reliability at power plants and avoid a repeat of the shutdowns and price spikes during the unseasonably cold winter of 2014.
- Under the plan, which takes effect in 2018 after a capacity auction this year, generators that promise to be available during peak demand periods will receive higher payouts than other plants and will be penalized for failing to meet the commitments; the auction, planned for May, was delayed after FERC declined PJM’s initial proposal and asked for more information.
- The largest generators in PJM are trading higher at the open: NRG +4.2%, AEP +1.4%, EXC +3.1%, PEG +1.1%, DYN +7.2%.
- Also: TLN +4%, NEE +1.2%, PCG +0.7%, EE +1.5%, SO +0.5%, D +0.2%, DUK +0.9%, XLU +0.9%.
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. The company's electrical generating facilities include Palo Verde... More
Industry: Electric Utilities
Country: United States
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