Keybank National Association OH cut its holdings in El Paso Electric Company (NYSE:EE) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,900 shares of the utilities provider’s stock after selling 3,273 shares during the period. Keybank National Association OH owned about 0.06% of El Paso Electric worth $1,339,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Neuburgh Advisers LLC raised its stake in El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock valued at $104,000 after buying an additional 22 shares in the last quarter. Tyers Asset Management LLC raised its stake in El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock valued at $133,000 after buying an additional 28 shares in the last quarter. Flinton Capital Management LLC raised its stake in El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock valued at $161,000 after buying an additional 34 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in El Paso Electric in the first quarter valued at $176,000. Finally, Neuberger Berman Group LLC acquired a new stake in El Paso Electric in the second quarter valued at $221,000. Institutional investors own 97.96% of the company’s stock.
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EE has been the topic of a number of analyst reports. BidaskClub cut El Paso Electric from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. Zacks Investment Research cut El Paso Electric from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Finally, Mizuho started coverage on El Paso Electric in a research report on Thursday, August 17th. They set a “neutral” rating and a $55.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $53.25.
Shares of El Paso Electric Company (NYSE EE) opened at 55.40 on Tuesday. The firm has a market cap of $2.25 billion, a PE ratio of 20.01 and a beta of 0.48. The stock’s 50 day moving average price is $53.42 and its 200-day moving average price is $51.60. El Paso Electric Company has a 52-week low of $42.49 and a 52-week high of $55.85.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The business had revenue of $251.84 million for the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same quarter last year, the company posted $0.55 EPS. On average, equities research analysts anticipate that El Paso Electric Company will post $2.57 earnings per share for the current fiscal year.
In other news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.
El Paso Electric 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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