Legal & General Group Plc lowered its position in El Paso Electric Company (NYSE:EE) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,114 shares of the utilities provider’s stock after selling 5,163 shares during the period. Legal & General Group Plc owned 0.48% of El Paso Electric Company worth $9,748,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in EE. State of Alaska Department of Revenue raised its stake in El Paso Electric Company by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the utilities provider’s stock worth $226,000 after buying an additional 90 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in El Paso Electric Company by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the utilities provider’s stock worth $833,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can raised its stake in El Paso Electric Company by 8.9% in the first quarter. Bank of Montreal Can now owns 71,584 shares of the utilities provider’s stock worth $3,615,000 after buying an additional 5,862 shares in the last quarter. Norges Bank acquired a new stake in El Paso Electric Company during the fourth quarter worth approximately $17,712,000. Finally, Thrivent Financial for Lutherans raised its stake in El Paso Electric Company by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,860 shares of the utilities provider’s stock worth $1,016,000 after buying an additional 1,210 shares in the last quarter. 96.85% of the stock is currently owned by institutional investors.
Shares of El Paso Electric Company (NYSE:EE) traded up 0.48% during midday trading on Friday, reaching $52.60. The company had a trading volume of 10,954 shares. The stock’s 50 day moving average is $52.85 and its 200-day moving average is $49.26. El Paso Electric Company has a 12-month low of $42.49 and a 12-month high of $55.45. The stock has a market capitalization of $2.13 billion, a PE ratio of 21.66 and a beta of 0.52.
El Paso Electric Company (NYSE:EE) last posted its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.05. El Paso Electric Company had a return on equity of 9.34% and a net margin of 10.95%. The firm had revenue of $171.34 million for the quarter. During the same quarter in the prior year, the business posted ($0.14) earnings per share. On average, equities research analysts predict that El Paso Electric Company will post $2.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $0.335 per share. This is an increase from El Paso Electric Company’s previous quarterly dividend of $0.31. This represents a $1.34 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, June 14th. El Paso Electric Company’s dividend payout ratio is 55.14%.
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EE has been the topic of a number of recent research reports. BidaskClub lowered El Paso Electric Company from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research lowered El Paso Electric Company from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC lifted their target price on El Paso Electric Company from $48.50 to $52.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $51.33.
About El Paso Electric Company
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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