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An Argus Research analyst reiterated a Hold rating for El Paso Electric Company (NYSE: EE), citing regulatory concerns as the main reason for the reiteration.
The firm maintains a long-term Buy rating for El Paso, however, citing the company’s financial strength, limited risk profile, forward earnings stream and attractive integrated structure.
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“We expect the company to face challenges in the near term due to regulatory lag — caused by placing the Montana Power Generating Station into service before receiving rate base approval from regulators,” said the analyst.
With the reiterated HOLD rating the firm lowered its 2016 EPS estimate from $2.48 to $2.39 and its 2017 estimate from $2.68 to $2.53.
At time of writing, shares of El Paso were trading down 0.63 percent at $44.27.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.