Alpine Group USVI LLC bought a new position in shares of El Paso Electric (NYSE:EE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the utilities provider’s stock, valued at approximately $2,012,000. El Paso Electric makes up approximately 0.5% of Alpine Group USVI LLC’s investment portfolio, making the stock its 26th largest holding. Alpine Group USVI LLC owned 0.07% of El Paso Electric at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its holdings in shares of El Paso Electric by 127.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,464 shares of the utilities provider’s stock valued at $2,110,000 after acquiring an additional 17,638 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of El Paso Electric by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 1,019,800 shares of the utilities provider’s stock valued at $66,695,000 after acquiring an additional 7,931 shares in the last quarter. Water Island Capital LLC purchased a new position in shares of El Paso Electric during the 2nd quarter valued at $20,891,000. Polar Asset Management Partners Inc. purchased a new position in shares of El Paso Electric during the 2nd quarter valued at $5,232,000. Finally, BlackRock Inc. grew its holdings in shares of El Paso Electric by 1.1% during the 2nd quarter. BlackRock Inc. now owns 6,189,878 shares of the utilities provider’s stock valued at $404,820,000 after acquiring an additional 68,066 shares in the last quarter. 91.94% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on EE. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, August 5th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $60.00.
In related news, Director Edward Escudero sold 15,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $66.37, for a total value of $995,550.00. Following the completion of the sale, the director now directly owns 17,252 shares in the company, valued at $1,145,015.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Wertheimer sold 25,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $66.40, for a total transaction of $1,660,000.00. Following the completion of the sale, the director now owns 27,376 shares of the company’s stock, valued at $1,817,766.40. The disclosure for this sale can be found here. Insiders sold 64,094 shares of company stock valued at $4,254,910 over the last quarter. 1.21% of the stock is currently owned by corporate insiders.
Shares of El Paso Electric stock traded down $0.34 on Friday, hitting $67.14. 266,817 shares of the company traded hands, compared to its average volume of 245,857. The company has a 50-day moving average price of $66.86 and a 200 day moving average price of $63.84. The company has a quick ratio of 0.46, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. El Paso Electric has a 12-month low of $47.99 and a 12-month high of $67.86. The company has a market cap of $2.74 billion, a PE ratio of 28.82 and a beta of 0.53.
El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.14). The business had revenue of $203.08 million during the quarter. El Paso Electric had a return on equity of 7.79% and a net margin of 10.39%.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, September 13th. El Paso Electric’s dividend payout ratio is presently 66.09%.
About El Paso Electric
El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.
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