Ontario Teachers Pension Plan Board Purchases Shares of 14,376 El Paso Electric (EE)

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Ontario Teachers Pension Plan Board purchased a new position in El Paso Electric (NYSE:EE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,376 shares of the utilities provider’s stock, valued at approximately $850,000.

Other large investors also recently made changes to their positions in the company. Tyers Asset Management LLC increased its stake in shares of El Paso Electric by 11.2% in the second quarter. Tyers Asset Management LLC now owns 8,344 shares of the utilities provider’s stock worth $493,000 after purchasing an additional 840 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of El Paso Electric by 25.7% in the second quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 976 shares during the period. Riverhead Capital Management LLC increased its stake in shares of El Paso Electric by 11.0% in the second quarter. Riverhead Capital Management LLC now owns 10,072 shares of the utilities provider’s stock worth $595,000 after purchasing an additional 1,000 shares during the period. Piermont Capital Management Inc. increased its stake in shares of El Paso Electric by 2.3% in the first quarter. Piermont Capital Management Inc. now owns 44,980 shares of the utilities provider’s stock worth $2,294,000 after purchasing an additional 1,010 shares during the period. Finally, Flinton Capital Management LLC increased its stake in shares of El Paso Electric by 13.1% in the first quarter. Flinton Capital Management LLC now owns 9,112 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 1,054 shares during the period. 97.60% of the stock is owned by institutional investors.

Shares of EE opened at $62.85 on Friday. El Paso Electric has a 12-month low of $48.05 and a 12-month 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. The stock has a market cap of $2.53 billion, a P/E ratio of 27.40, a PEG ratio of 5.48 and a beta of 0.31.

El Paso Electric (NYSE:EE) last issued its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.12). El Paso Electric had a net margin of 10.21% and a return on equity of 8.12%. The firm had revenue of $236.80 million for the quarter. During the same quarter last year, the company earned $0.89 EPS. analysts anticipate that El Paso Electric will post 2.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.44 annualized dividend and a yield of 2.29%. El Paso Electric’s dividend payout ratio is 59.50%.

A number of equities analysts have recently commented on EE shares. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Williams Capital lowered El Paso Electric from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $52.00 to $49.00 in a research note on Monday, June 11th. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Mizuho reiterated a “hold” rating and issued a $58.00 price objective on shares of El Paso Electric in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average 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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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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