El Paso Electric (EE) Position Lowered by Gabelli Funds LLC

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Gabelli Funds LLC lessened its position in shares of El Paso Electric (NYSE:EE) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,898,100 shares of the utilities provider’s stock after selling 4,500 shares during the quarter. El Paso Electric comprises 0.6% of Gabelli Funds LLC’s holdings, making the stock its 21st biggest position. Gabelli Funds LLC owned 4.66% of El Paso Electric worth $108,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Chicago Equity Partners LLC acquired a new position in El Paso Electric during the 2nd quarter valued at approximately $210,000. Meadow Creek Investment Management LLC increased its stake in El Paso Electric by 25.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock valued at $282,000 after purchasing an additional 976 shares in the last quarter. Van ECK Associates Corp increased its stake in El Paso Electric by 44.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,450 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 1,993 shares in the last quarter. Tyers Asset Management LLC increased its stake in El Paso Electric by 11.2% during the 2nd quarter. Tyers Asset Management LLC now owns 8,344 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 840 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in El Paso Electric during the 2nd quarter valued at approximately $508,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.

EE has been the topic of a number of recent analyst reports. Mizuho restated a “hold” rating and set a $58.00 price target on shares of El Paso Electric in a research note on Friday, July 20th. ValuEngine lowered shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research lowered shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $56.00.

NYSE:EE opened at $56.91 on Monday. The firm has a market capitalization of $2.32 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 5.36 and a beta of 0.29. El Paso Electric has a 1-year low of $48.05 and a 1-year high of $64.35. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 1.22.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. The firm had revenue of $300.27 million for the quarter. El Paso Electric had a net margin of 11.67% and a return on equity of 9.32%. Research analysts predict that El Paso Electric will post 2.28 EPS for the current fiscal year.

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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