Virginia Retirement Systems ET AL decreased its stake in shares of El Paso Electric (NYSE:EE) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,500 shares of the utilities provider’s stock after selling 1,900 shares during the quarter. Virginia Retirement Systems ET AL owned about 0.05% of El Paso Electric worth $1,133,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of EE. Quantbot Technologies LP acquired a new position in shares of El Paso Electric during the 3rd quarter worth approximately $179,000. 1st Global Advisors Inc. acquired a new position in shares of El Paso Electric during the 2nd quarter worth approximately $202,000. Sciencast Management LP acquired a new position in shares of El Paso Electric during the 2nd quarter worth approximately $202,000. Shelton Capital Management acquired a new position in shares of El Paso Electric during the 2nd quarter worth approximately $208,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of El Paso Electric during the 2nd quarter worth approximately $221,000. 98.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and set a $56.00 target price (up from $55.00) on shares of El Paso Electric in a report on Friday, August 11th. Mizuho reissued a “hold” rating and set a $55.00 target price on shares of El Paso Electric in a report on Friday, October 27th. Bank of America assumed coverage on El Paso Electric in a report on Tuesday, October 24th. They set a “buy” rating and a $62.00 target price on the stock. Finally, BidaskClub raised 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 given a buy rating to the company’s stock. El Paso Electric has an average rating of “Hold” and an average price target of $56.60.
El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.23). The business had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. research analysts predict that El Paso Electric will post 2.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 annualized dividend and a yield of 2.28%. El Paso Electric’s dividend payout ratio (DPR) is presently 55.83%.
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About El Paso Electric
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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