Employees Retirement System of Texas lowered its position in El Paso Electric Company (NYSE:EE) by 22.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,000 shares of the utilities provider’s stock after selling 5,000 shares during the period. Employees Retirement System of Texas’ holdings in El Paso Electric were worth $879,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in El Paso Electric in the 1st quarter worth $176,000. Neuberger Berman Group LLC purchased a new stake in El Paso Electric in the 2nd quarter worth $221,000. Affinity Investment Advisors LLC purchased a new stake in El Paso Electric in the 2nd quarter worth $240,000. Balyasny Asset Management LLC purchased a new stake in El Paso Electric in the 2nd quarter worth $270,000. Finally, Trexquant Investment LP purchased a new stake in El Paso Electric in the 2nd quarter worth $279,000. 97.96% of the stock is owned by institutional investors.
Several analysts have commented on the stock. Jefferies Group LLC cut shares of El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday. Mizuho reiterated a “hold” rating and issued a $56.00 price target on shares of El Paso Electric in a research note on Wednesday, October 4th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Finally, BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. 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. El Paso Electric currently has a consensus rating of “Hold” and a consensus target price of $55.50.
Shares of El Paso Electric Company (NYSE EE) opened at 57.00 on Tuesday. The stock has a market cap of $2.31 billion, a PE ratio of 20.59 and a beta of 0.47. El Paso Electric Company has a 52 week low of $43.12 and a 52 week high of $58.70. The firm has a 50-day moving average of $55.80 and a 200 day moving average of $53.22.
El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The firm 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 in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that El Paso Electric Company will post $2.58 EPS for the current fiscal year.
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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