El Paso Electric Company (NYSE:EE) Director Charles Yamarone sold 3,500 shares of El Paso Electric Company stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $524,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
El Paso Electric Company (EE) traded down 0.47% during midday trading on Tuesday, hitting $52.70. 64,195 shares of the stock were exchanged. El Paso Electric Company has a 12-month low of $42.49 and a 12-month high of $55.45. The firm has a 50 day moving average of $52.85 and a 200-day moving average of $49.26. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 21.70 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) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.05. The business had revenue of $171.34 million during the quarter. El Paso Electric Company had a net margin of 10.95% and a return on equity of 9.34%. During the same quarter last year, the firm earned ($0.14) EPS. On average, equities analysts expect that El Paso Electric Company will post $2.50 earnings per share for the current year.
The business 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 $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, June 14th. This is a positive change from El Paso Electric Company’s previous quarterly dividend of $0.31. El Paso Electric Company’s payout ratio is 55.14%.
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Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of 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 during the period. Louisiana State Employees Retirement System increased its position in shares of 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 valued at $833,000 after buying an additional 200 shares during the period. Bank of Montreal Can increased its position in shares of 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 valued at $3,615,000 after buying an additional 5,862 shares during the period. Norges Bank purchased a new position in shares of El Paso Electric Company during the fourth quarter valued at about $17,712,000. Finally, Thrivent Financial for Lutherans increased its position in shares of 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 valued at $1,016,000 after buying an additional 1,210 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.
Several analysts have recently issued reports on EE shares. BidaskClub lowered shares of El Paso Electric Company from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded shares of El Paso Electric Company from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, March 14th. Finally, Jefferies Group LLC boosted their price target on shares of El Paso Electric Company from $48.50 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.33.
El Paso Electric Company Company Profile
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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