Citadel Advisors LLC Cuts Stake in El Paso Electric (EE)

Citadel Advisors LLC lessened its position in shares of El Paso Electric (NYSE:EE) by 43.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,310 shares of the utilities provider’s stock after selling 8,655 shares during the quarter. Citadel Advisors LLC’s holdings in El Paso Electric were worth $625,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of El Paso Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after buying an additional 100 shares during the last quarter. Prudential Financial Inc. raised its stake in El Paso Electric by 32.3% in the 3rd quarter. Prudential Financial Inc. now owns 155,356 shares of the utilities provider’s stock valued at $8,583,000 after purchasing an additional 37,950 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new position in El Paso Electric in the 3rd quarter valued at about $13,369,000. Balyasny Asset Management LLC acquired a new position in El Paso Electric in the 2nd quarter valued at about $270,000. Finally, GSA Capital Partners LLP acquired a new position in El Paso Electric in the 2nd quarter valued at about $607,000. 98.86% of the stock is owned by institutional investors and hedge funds.

Shares of El Paso Electric (EE) traded up $0.10 during mid-day trading on Monday, reaching $58.90. 282,800 shares of the company traded hands, compared to its average volume of 194,659. El Paso Electric has a 12-month low of $44.70 and a 12-month high of $61.15. The firm has a market cap of $2,390.86, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 4.53 and a beta of 0.47. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05.

El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.23). The firm 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%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 EPS. sell-side analysts predict that El Paso Electric will post 2.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is 55.83%.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Tuesday, September 19th. Jefferies Group reissued a “hold” rating and issued a $57.00 target price (up previously from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. Mizuho reissued a “hold” rating and issued a $55.00 target price on shares of El Paso Electric in a research note on Friday, October 27th. Bank of America assumed coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 target price for the company. Finally, BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. El Paso Electric presently has an average rating of “Hold” and an average price target of $56.60.

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About El Paso Electric

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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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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