Shelton Capital Management purchased a new position in El Paso Electric Company (NYSE:EE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,029 shares of the utilities provider’s stock, valued at approximately $208,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of EE. Neuberger Berman Group LLC acquired a new position in El Paso Electric during the second quarter worth $221,000. Affinity Investment Advisors LLC acquired a new position in El Paso Electric during the second quarter worth $240,000. Balyasny Asset Management LLC acquired a new position in El Paso Electric during the second quarter worth $270,000. Trexquant Investment LP acquired a new position in El Paso Electric during the second quarter worth $279,000. Finally, Amalgamated Bank increased its position in El Paso Electric by 1.0% during the second quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after buying an additional 55 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
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Shares of El Paso Electric Company (NYSE:EE) opened at 57.40 on Friday. El Paso Electric Company has a 1-year low of $43.50 and a 1-year high of $58.70. The company has a market cap of $2.33 billion, a PE ratio of 20.74 and a beta of 0.47. The company has a 50 day moving average of $56.01 and a 200 day moving average of $53.37.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. The business had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period in the previous year, the firm posted $0.55 EPS. Equities analysts expect that El Paso Electric Company will post $2.54 earnings per share for the current fiscal year.
Several research firms have commented on EE. BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “strong sell” rating in a report on Friday, July 21st. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Mizuho assumed coverage on shares of El Paso Electric in a report on Thursday, August 17th. They set a “neutral” rating and a $55.00 price target for the company. Finally, Jefferies Group LLC cut shares of El Paso Electric from a “hold” rating to an “underperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.50.
About El Paso Electric
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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