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El Paso Electric

 

Buy El Paso Electric stocks

EL PASO ELECTRIC (EE) Stocks

ABOUT EL PASO ELECTRIC

? El Paso Electric Company, an American public utility firm, was founded in 1901 and has its headquarters in El Paso, Texas. The company focuses on the generation, transmission and distribution of electricity in western Texas and southern New Mexico. Its clientele comprises retail customers in El Paso, Texas and Las Cruces, New Mexico. The company also resells electricity to electric utilities and power marketers.

The company was first established in 1901 as the El Paso Electric Railway Company. At the time, its primary business was the provision of transportation via mule-drawn streetcars which were then later replaced by electric streetcars.

The company also provided electricity to Nikola Tesla’s property in Colorado.

Today, this regional electric utility offers generation, transmission and distribution services to more than 400 000 wholesale and retail customers in a 10 000 square-mile (26,000²km) area of west Texas’ Rio Grande valley and southern New Mexico.

Its service area stretches from Hatch, New Mexico to Van Horn, Texas. The company currently employs approximately 1 000 people across its operations.

HISTORY OF EL PASO ELECTRIC

  • In the 1920’s, El Paso Electric Company’s core business had evolved to producing and distributing electricity. In 1925, the company changed to El Paso Electric Company. It also received authorization to operate in New Mexico.
  • As of the end of 2013, El Paso Electric operated 32 electric-car charging stations in its service area that recharge Nissan Leafs, Chevrolet Volts and other electric-car brands. Transmission system voltages are 115,000- and 345,000 volts. The company is also actively expanding the adoption of electric vehicles via its Plug-in Electric Vehicle and Charging Infrastructure Plan (PEVCIP) for the Rio Grande Valley.
  • El Paso Electric further owns six electrical generating facilities with a net dependable generating capacity of about 2,010 megawatts. Its energy sources comprise nuclear fuel, natural gas, solar, purchased power and wind turbines.
  • The company also owns a 15.8% interest in the Palo Verde Nuclear Generating Station at Tonopah, Arizona, the Montana Power Station in El Paso, the Hueco Mountain Wind Ranch in Hudspeth County, Texas, the Rio Grande Power Station in Sunland Park, New Mexico and the Newman Power Station.

VISION & VALUES OF EL PASO ELECTRIC

  • El Paso Electric’s mission is to provide safe, clean, affordable and reliable energy through superior acquisition, production and delivery. It passionately builds on its past and prepares for the future by adhering to core values that keeps it accountable to its clients and key stakeholders.
  • It adheres to legal and industry requirements in all of its operations and work in an honest and collaborative manner to resolve customer issues, should they present themselves.
  • The company further cares for its workforce and provides an environment that fosters mutual respect, commitment and integrity. It is fully committed to providing fair returns for shareholders who purchase company shares. This comprehensive business ethos fosters trust among all stakeholders and enables profitable growth.

MARKET PERFORMANCE OF EL PASO ELECTRIC

  • El Paso Electric Company trades on the New York Stock Exchange (NYSE) under the stock symbol “EE”. The company is an S&P 600 component.
  • For the second quarter 2019, El Paso Electric recorded net income of USUS Dollar 26.1 million or diluted earnings of US Dollar 0.64 per share. For the six months ended June 30, 2019, it reported adjusted net income of USUS Dollar 15.2 million or US Dollar 0.37 adjusted basic earnings per share.
  • This satisfactory market performance affords shareholders the confidence to buy or sell shares in the expectation of satisfactory dividends and returns.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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