Comerica Bank reduced its position in El Paso Electric (NYSE:EE) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,757 shares of the utilities provider’s stock after selling 4,238 shares during the quarter. Comerica Bank owned 0.37% of El Paso Electric worth $8,719,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in El Paso Electric in the third quarter worth about $6,855,000. First Trust Advisors LP grew its position in El Paso Electric by 8.6% in the third quarter. First Trust Advisors LP now owns 429,005 shares of the utilities provider’s stock worth $24,539,000 after acquiring an additional 34,021 shares in the last quarter. Bank of Montreal Can grew its position in El Paso Electric by 31.8% in the third quarter. Bank of Montreal Can now owns 60,148 shares of the utilities provider’s stock worth $3,440,000 after acquiring an additional 14,495 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its position in El Paso Electric by 6.8% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 469,611 shares of the utilities provider’s stock worth $26,862,000 after acquiring an additional 29,985 shares in the last quarter. Finally, Northern Trust Corp grew its position in El Paso Electric by 0.8% in the second quarter. Northern Trust Corp now owns 1,305,183 shares of the utilities provider’s stock worth $77,136,000 after acquiring an additional 10,528 shares in the last quarter. Hedge funds and other institutional investors own 99.94% of the company’s stock.
Shares of NYSE:EE opened at $58.37 on Friday. El Paso Electric has a 1 year low of $48.05 and a 1 year high of $64.35. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 5.08 and a beta of 0.29. The company has a quick ratio of 0.61, a current ratio of 0.98 and a debt-to-equity ratio of 1.16.
El Paso Electric (NYSE:EE) last announced its earnings results on Thursday, November 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.12. El Paso Electric had a return on equity of 9.19% and a net margin of 11.67%. The business had revenue of $300.27 million during the quarter. Analysts anticipate that El Paso Electric will post 2.43 EPS for the current fiscal year.
Several research analysts recently commented on the company. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. ValuEngine lowered El Paso Electric from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Mizuho restated a “hold” rating and set a $58.00 target price on shares of El Paso Electric in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $56.00.
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About El Paso Electric
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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