Magellan Asset Management Ltd cut its position in El Paso Electric (NYSE:EE) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,917 shares of the utilities provider’s stock after selling 834 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of El Paso Electric worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Dalton Greiner Hartman Maher & Co. boosted its stake in El Paso Electric by 1.8% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 439,626 shares of the utilities provider’s stock valued at $25,982,000 after acquiring an additional 7,951 shares during the last quarter. American Investment Services Inc. acquired a new stake in shares of El Paso Electric during the second quarter worth $1,133,000. Nisa Investment Advisors LLC acquired a new stake in shares of El Paso Electric during the second quarter worth $1,967,000. SG Americas Securities LLC raised its holdings in shares of El Paso Electric by 16.1% during the first quarter. SG Americas Securities LLC now owns 19,635 shares of the utilities provider’s stock worth $1,001,000 after purchasing an additional 2,730 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of El Paso Electric by 1.9% during the first quarter. New York State Teachers Retirement System now owns 136,300 shares of the utilities provider’s stock worth $6,951,000 after purchasing an additional 2,600 shares during the period. Institutional investors and hedge funds own 97.60% of the company’s stock.
Shares of NYSE:EE opened at $62.85 on Friday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 5.48 and a beta of 0.31. El Paso Electric has a 1-year low of $48.05 and a 1-year high of $64.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.61 and a current ratio of 0.84.
El Paso Electric (NYSE:EE) last issued its earnings results on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.12). The business had revenue of $236.80 million for the quarter. El Paso Electric had a return on equity of 8.12% and a net margin of 10.21%. During the same quarter last year, the business earned $0.89 earnings per share. equities research analysts anticipate that El Paso Electric will post 2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.36 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.29%. El Paso Electric’s dividend payout ratio (DPR) is presently 59.50%.
A number of brokerages have weighed in on EE. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, August 6th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Mizuho reissued a “hold” rating and set a $58.00 target price on shares of El Paso Electric in a report on Friday, July 20th. Finally, Williams Capital cut shares of El Paso Electric from a “hold” rating to a “sell” rating and dropped their target price for the stock from $52.00 to $49.00 in a report on Monday, June 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.20.
El Paso Electric Profile
El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.
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