Empire District Electric Co. Expected to Earn Q3 2016 Earnings of $0.63 Per Share (EDE)
Empire District Electric Co. (NYSE:EDE) – Investment analysts at KeyCorp issued their Q3 2016 EPS estimates for Empire District Electric in a research note issued on Monday. KeyCorp analyst P. Ridzon forecasts that the firm will post earnings per share of $0.63 for the quarter.
Empire District Electric (NYSE:EDE) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Empire District Electric had a return on equity of 7.90% and a net margin of 11.47%.
Other research analysts have also issued research reports about the company. Scotiabank reaffirmed a “sector perform” rating and set a $23.00 price objective on shares of Empire District Electric in a report on Wednesday, September 14th. BMO Capital Markets reissued a “market perform” rating and issued a $21.00 target price on shares of Empire District Electric in a report on Monday, September 19th. TD Securities reissued a “hold” rating and issued a $20.00 target price on shares of Empire District Electric in a report on Thursday, September 15th. Barclays PLC lowered Empire District Electric from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $24.00 to $19.00 in a report on Friday, July 1st. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $22.00 target price on shares of Empire District Electric in a report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.13.
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Shares of Empire District Electric (NYSE:EDE) traded up 0.09% during mid-day trading on Wednesday, hitting $34.30. The company had a trading volume of 36,087 shares. The firm has a 50-day moving average of $34.07 and a 200-day moving average of $33.77. The company has a market cap of $1.51 billion, a PE ratio of 25.81 and a beta of 0.11. Empire District Electric has a 12 month low of $21.43 and a 12 month high of $34.33.
Institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its position in Empire District Electric by 2.7% in the third quarter. Hennessy Advisors Inc. now owns 18,825 shares of the company’s stock valued at $643,000 after buying an additional 500 shares during the period. Creative Planning increased its position in Empire District Electric by 0.4% in the third quarter. Creative Planning now owns 8,182 shares of the company’s stock valued at $279,000 after buying an additional 31 shares during the period. BNP Paribas Arbitrage SA increased its position in Empire District Electric by 2,121.4% in the third quarter. BNP Paribas Arbitrage SA now owns 61,156 shares of the company’s stock valued at $2,088,000 after buying an additional 58,403 shares during the period. Aristotle Capital Boston LLC increased its position in Empire District Electric by 4.3% in the second quarter. Aristotle Capital Boston LLC now owns 219,679 shares of the company’s stock valued at $7,462,000 after buying an additional 9,092 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Empire District Electric by 7.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 231,563 shares of the company’s stock valued at $7,867,000 after buying an additional 15,861 shares during the period. Hedge funds and other institutional investors own 64.14% of the company’s stock.
Empire District Electric Company Profile
The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.
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