Wells Fargo & Company MN reduced its stake in shares of El Paso Electric (NYSE:EE) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,599 shares of the utilities provider’s stock after selling 18,651 shares during the period. Wells Fargo & Company MN owned 0.57% of El Paso Electric worth $13,304,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of EE. Chicago Equity Partners LLC purchased a new position in shares of El Paso Electric during the 2nd quarter valued at $210,000. Meadow Creek Investment Management LLC grew its holdings in shares of El Paso Electric by 25.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 976 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of El Paso Electric by 44.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,450 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 1,993 shares in the last quarter. Tyers Asset Management LLC grew its holdings in shares of El Paso Electric by 11.2% during the 2nd quarter. Tyers Asset Management LLC now owns 8,344 shares of the utilities provider’s stock valued at $493,000 after acquiring an additional 840 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of El Paso Electric in the 2nd quarter valued at $508,000. Institutional investors and hedge funds own 97.61% of the company’s stock.
EE stock opened at $53.99 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.98 and a quick ratio of 0.72. El Paso Electric has a 1 year low of $48.05 and a 1 year high of $64.35. The firm has a market capitalization of $2.17 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 4.70 and a beta of 0.28.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.12. El Paso Electric had a net margin of 11.67% and a return on equity of 9.19%. The business had revenue of $300.27 million during the quarter. Equities analysts forecast that El Paso Electric will post 2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, December 13th. El Paso Electric’s payout ratio is presently 59.50%.
Several equities research analysts recently issued reports on EE shares. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine lowered shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.00.
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El Paso Electric Profile
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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