Ameriprise Financial Inc. increased its stake in El Paso Electric (NYSE:EE) by 6.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 400,678 shares of the utilities provider’s stock after buying an additional 23,163 shares during the quarter. Ameriprise Financial Inc. owned 0.99% of El Paso Electric worth $22,138,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of EE. Quantbot Technologies LP purchased a new position in shares of El Paso Electric in the 3rd quarter worth about $179,000. 1st Global Advisors Inc. purchased a new position in shares of El Paso Electric in the 2nd quarter worth about $202,000. Sciencast Management LP purchased a new position in shares of El Paso Electric in the 2nd quarter worth about $202,000. Shelton Capital Management purchased a new position in shares of El Paso Electric in the 2nd quarter worth about $208,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of El Paso Electric in the 2nd quarter worth about $221,000. 98.86% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on EE. Zacks Investment Research raised shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and issued a $57.00 price target (up from $56.00) on shares of El Paso Electric in a report on Friday, October 6th. Mizuho reaffirmed a “hold” rating and set a $55.00 price objective on shares of El Paso Electric in a report on Friday, October 27th. Bank of America initiated coverage on shares of El Paso Electric in a report on Tuesday, October 24th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.60.
El Paso Electric (NYSE EE) traded up $0.10 during midday trading on Friday, reaching $58.90. 282,838 shares of the company’s stock traded hands, compared to its average volume of 222,243. The stock has a market capitalization of $2,390.87, a P/E ratio of 24.54, a PEG ratio of 4.53 and a beta of 0.47. El Paso Electric has a 1-year low of $44.70 and a 1-year high of $61.15. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.47 and a current ratio of 0.63.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. El Paso Electric’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. equities research analysts expect that El Paso Electric will post 2.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is presently 55.83%.
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El Paso Electric Company 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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