Jefferies Increases EE 2010 EPS Estimates

Jefferies is increasing its 4Q and full year 2010 EPS estimates on shares of El Paso Electric Company (NYSE: EE) by $0.05 to $0.15 and $2.15, respectively.

“The primary reason for our revision is the absence of a 4Q09 61 day outage at the Palo Verde nuclear plant Unit 2,” Jefferies writes. “Our 2010 estimate EXCLUDES a 1Q10 Medicare Part D charge of $0.11. The company's guidance range of $1.95-$2.15 INCLUDES the $0.11 charge.”

El Paso Electric Company closed Thursday at $27.74.