El Paso Electric Stock To Go Ex-dividend Tomorrow (EE)

NEW YORK ( TheStreet) -- The ex-dividend date for El Paso Electric Company (NYSE: EE) is tomorrow, March 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 22 cents per share. At a price of $32.26 as of 9:35 a.m. ET, the dividend yield is 2.7%.

The average volume for El Paso Electric has been 293,000 shares per day over the past 30 days. El Paso Electric has a market cap of $1.38 billion and is part of the utilities sector and utilities industry. Shares are down 6.6% year to date as of the close of trading on Friday.

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity primarily in west Texas and southern New Mexico. It principally operates nuclear, natural gas, and coal power plants, as well as wind turbines. The company has a P/E ratio of 13, below the average utilities industry P/E ratio of 13.6 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates El Paso Electric as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full El Paso Electric Ratings Report.

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