Boston Partners trimmed its holdings in El Paso Electric (NYSE:EE) by 8.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 70,200 shares of the utilities provider’s stock after selling 6,120 shares during the period. Boston Partners owned 0.17% of El Paso Electric worth $3,879,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of EE. Amalgamated Bank grew its position in shares of El Paso Electric by 1.0% in the second quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 55 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of El Paso Electric by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock valued at $478,000 after acquiring an additional 90 shares during the period. Arizona State Retirement System raised its stake in shares of El Paso Electric by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock valued at $1,096,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund raised its stake in shares of El Paso Electric by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock valued at $1,531,000 after acquiring an additional 248 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its holdings in El Paso Electric by 4.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock valued at $495,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 98.86% of the company’s stock.
Shares of El Paso Electric (NYSE EE) traded down $0.20 on Monday, reaching $60.05. 290,637 shares of the company were exchanged, compared to its average volume of 194,315. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.63 and a quick ratio of 0.47. The stock has a market capitalization of $2,445.66, a P/E ratio of 25.10, a PEG ratio of 4.64 and a beta of 0.47. El Paso Electric has a 52-week low of $44.65 and a 52-week high of $61.15.
El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million during the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. El Paso Electric’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. equities analysts predict that El Paso Electric will post 2.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, December 14th. El Paso Electric’s payout ratio is 55.83%.
EE has been the topic of a number of recent research reports. Bank of America downgraded shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Wednesday, November 22nd. Jefferies Group cut shares of El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. Mizuho reissued a “hold” rating and issued a $55.00 target price on shares of El Paso Electric in a research report on Friday, October 27th. ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Zacks Investment Research raised shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.60.
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El Paso Electric Company Profile
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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