Chartwell Investment Partners LLC reduced its stake in El Paso Electric (NYSE:EE) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,865 shares of the utilities provider’s stock after selling 9,990 shares during the period. Chartwell Investment Partners LLC owned approximately 0.68% of El Paso Electric worth $15,269,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EE. Quantbot Technologies LP bought a new position in El Paso Electric in the third quarter worth about $179,000. 1st Global Advisors Inc. acquired a new stake in shares of El Paso Electric in the second quarter valued at approximately $202,000. Shelton Capital Management acquired a new stake in shares of El Paso Electric in the second quarter valued at approximately $208,000. Balyasny Asset Management LLC acquired a new stake in shares of El Paso Electric in the second quarter valued at approximately $270,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of El Paso Electric in the second quarter valued at approximately $294,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.
Shares of El Paso Electric (NYSE:EE) traded up $0.12 on Thursday, reaching $50.02. 121,223 shares of the company traded hands, compared to its average volume of 275,399. El Paso Electric has a 12-month low of $47.35 and a 12-month high of $61.15. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The company has a market cap of $2,039.74, a P/E ratio of 20.94, a PEG ratio of 3.70 and a beta of 0.37.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.335 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.34 annualized dividend and a dividend yield of 2.68%. El Paso Electric’s dividend payout ratio (DPR) is currently 55.83%.
EE has been the topic of several recent research reports. Mizuho restated a “hold” rating and issued a $55.00 price target 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 note on Friday, November 10th. Bank of America lowered shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, December 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $58.50.
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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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