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EE

El Paso Electric

$54.85

0.05 (0.09%)

18:25
09/19/17
09/19
18:25
09/19/17
18:25

El Paso Electric announces City of El Paso approved settlement terms

El Paso Electric announced that the City of El Paso approved, in principle, the settlement terms for EPE's rate case pending in Docket No. 46831 before the Public Utility Commission of Texas, or PUCT. No party in the case has indicated that it intends to oppose the proposed settlement. Key terms of the proposed settlement include: an annual non-fuel base rate increase of $14.5M; a return on equity of 9.65%; a determination that all new plant in service was prudent and used and useful and therefore is included in rate base; and allowing EPE to recover reasonable rate case expenses, subject to Commission Staff's review and currently estimated to be approximately $3.0M, through a separate surcharge over a three year period. The settlement also establishes baseline revenue requirements for transmission and distribution investment costs. The settlement also includes a minimum monthly charge of $30.00 for residential customers with distributed generation. This charge is to recover the cost of grid and customer-related services. Additionally, the proposed settlement allows for the annual recovery of $2.1M of nuclear decommissioning funding and establishes annual depreciation expense that is approximately $1.9M lower than the annual amount requested by EPE in its initial filing. The settlement documents will be filed with the Administrative Law Judges, along with a request that they return the case to the PUCT for approval. A Final Order is anticipated to be issued in the Q4. Regardless of when the Final Order is issued, the new rates will relate back to consumption on or after July 18.

EE El Paso Electric
$54.85

0.05 (0.09%)

08/17/17
08/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Medifast (MED) initiated with a Buy at DA Davidson. 2. IEC Electronics (IEC) initiated with a Buy at Maxim. 3. PRA Health (PRAH) initiated with an Outperform at Raymond James. 4. Nutanix (NTNX) initiated with a Buy at Jefferies. 5. El Paso Electric (EE) initiated with a Neutral at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/17/17
MZHO
08/17/17
INITIATION
Target $55
MZHO
Neutral
El Paso Electric initiated with a Neutral at Mizuho
Mizuho analyst Paul Fremont initiated El Paso Electric with a Neutral and $55 price target due to uncertainty regarding regulatory rate filings in Texas and New Mexico.
11/15/16
JEFF
11/15/16
DOWNGRADE
Target $46.5
JEFF
Hold
El Paso Electric downgraded to Hold from Buy at Jefferies
Jefferies analyst Anthony Crowdell downgraded El Paso Electric to Hold citing valuation and lowered his price target for the shares to $46.50 from $50. The stock is currently trading at a 4% premium to the small cap group average, Crowdell tells investors in a research note.

TODAY'S FREE FLY STORIES

FNSR

Finisar

$21.98

0.34 (1.57%)

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TWN

Taiwan Fund

$21.16

-0.19 (-0.89%)

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AGEN

Agenus

$4.71

0.04 (0.86%)

, ADRO

Aduro Biotech

$9.55

-0.1 (-1.04%)

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William Blair biotech analyst holds an analyst/industry conference call Aduro Biotech »

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Agenus

$4.71

0.04 (0.86%)

ADRO

Aduro Biotech

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TSM

TSMC

$41.06

-0.445 (-1.07%)

12:22
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AAPL

Apple

$159.76

-0.71 (-0.44%)

, AXP

American Express

$91.42

-0.6599 (-0.72%)

12:21
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Apple

$159.76

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AXP

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VZ

Verizon

$49.81

1.16 (2.38%)

TRV

Travelers

$130.89

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PM

Philip Morris

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-4.21 (-3.74%)

ADBE

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EBAY

eBay

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CRBP

Corbus Pharmaceuticals

$7.00

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UAL

United Continental

$60.75

-7.24 (-10.65%)

AAL

American Airlines

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-0.04 (-0.08%)

DAL

Delta Air Lines

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-1.11 (-2.10%)

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COTY

Coty

$15.66

-0.105 (-0.67%)

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12:20
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Stephens food & agribusiness analyst holds an analyst/industry conference call »

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$NSD

NASDAQ Market Internals

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FB

Facebook

$176.03

-0.08 (-0.05%)

, AAPL

Apple

$159.76

-0.71 (-0.44%)

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Periodicals
Apple can't agree with terms for Facebook's subscription tool, Recode reports »

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FB

Facebook

$176.03

-0.08 (-0.05%)

AAPL

Apple

$159.76

-0.71 (-0.44%)

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$NYE

NYSE Market Internals

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PYPL

PayPal

$67.26

0.59 (0.88%)

, VNTV

Vantiv

$68.99

0.03 (0.04%)

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PYPL

PayPal

$67.26

0.59 (0.88%)

VNTV

Vantiv

$68.99

0.03 (0.04%)

MSFT

Microsoft

$77.61

0.02 (0.03%)

MA

MasterCard

$145.45

-0.74 (-0.51%)

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GM

General Motors

$45.12

-0.0049 (-0.01%)

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UAL

United Continental

$60.70

-7.29 (-10.72%)

, AAL

American Airlines

$52.03

-0.04 (-0.08%)

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UAL

United Continental

$60.70

-7.29 (-10.72%)

AAL

American Airlines

$52.03

-0.04 (-0.08%)

DAL

Delta Air Lines

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ALK

Alaska Air

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-2.875 (-3.57%)

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MLM

Martin Marietta

$208.03

4.68 (2.30%)

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GS

Goldman Sachs

$238.50

-3.53 (-1.46%)

, MS

Morgan Stanley

$49.36

-0.79 (-1.58%)

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Banks line up about EUR5B for Unilever spreads sale, Reuters reports »

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GS

Goldman Sachs

$238.50

-3.53 (-1.46%)

MS

Morgan Stanley

$49.36

-0.79 (-1.58%)

MFG

Mizuho Financial Group

$3.55

-0.03 (-0.84%)

UN

Unilever; also tag UL

$58.03

-3.36 (-5.47%)

UL

Unilever; also tag UN

$56.51

-3.35 (-5.60%)

BX

Blackstone

$34.36

0.8742 (2.61%)

KKR

KKR

$20.25

0.03 (0.15%)

APO

Apollo Global

$31.71

-0.02 (-0.06%)

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XPO

XPO Logistics

$64.45

-0.31 (-0.48%)

12:01
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  • 02

    Nov

SCSS

Select Comfort

$32.08

1.7 (5.60%)

12:00
10/19/17
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Put buyers in Select Comfort won't rest »

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UAL

United Continental

$61.63

-6.36 (-9.35%)

11:57
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  • 19

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BX

Blackstone

$34.33

0.835 (2.49%)

11:55
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QCOM

Qualcomm

$52.21

-0.2 (-0.38%)

11:50
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Defensive option play in Qualcomm opens a big position »

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  • 01

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FIZZ

National Beverage

$97.74

0.15 (0.15%)

11:47
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National Beverage attributes volatility to 'falsehoods' and 'rumors' »

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WPM

Wheaton Precious Metals

$20.59

0.586 (2.93%)

11:45
10/19/17
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Options
Wheaton Precious Metals call volume above normal and directionally bullish »

Bullish option flow…

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  • 10

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BA

Boeing

$258.00

-2.04 (-0.78%)

11:41
10/19/17
10/19
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10/19/17
11:41
Hot Stocks
Boeing reports 16 new orders in weekly update »

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  • 25

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AEM

Agnico Eagle

$45.12

0.3 (0.67%)

11:35
10/19/17
10/19
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Options
Agnico Eagle put volume heavy and directionally bearish »

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