Goldman Sachs Reports On EE Capital Allocation Plans

Goldman Sachs has reported on El Paso Electric Company's EE updated capical allocation plans. According to Goldman Sachs, "EE announced a repurchase authorization of up to 2.5 million shares of the company's stock in addition to its outstanding buyback program, where 0.7 million shares remained as of 4Q2010. The company also introduced a quarterly cash dividend of $0.22 per share beginning 2Q2011 versus our forecast of $0.21 in 3Q2011." EE closed at $28.28 yesterday.