MetLife Investment Advisors LLC acquired a new position in El Paso Electric (NYSE:EE) during the fourth quarter, Holdings Channel reports. The fund acquired 18,779 shares of the utilities provider’s stock, valued at approximately $1,039,000.
Other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in El Paso Electric by 31.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,121,700 shares of the utilities provider’s stock worth $62,086,000 after purchasing an additional 268,200 shares during the last quarter. Jennison Associates LLC grew its position in El Paso Electric by 13.6% during the 4th quarter. Jennison Associates LLC now owns 1,723,501 shares of the utilities provider’s stock worth $95,396,000 after purchasing an additional 205,703 shares during the last quarter. APG Asset Management N.V. grew its position in El Paso Electric by 372.0% during the 4th quarter. APG Asset Management N.V. now owns 119,900 shares of the utilities provider’s stock worth $5,527,000 after purchasing an additional 94,500 shares during the last quarter. BlackRock Inc. grew its position in El Paso Electric by 1.6% during the 4th quarter. BlackRock Inc. now owns 5,426,849 shares of the utilities provider’s stock worth $300,374,000 after purchasing an additional 85,047 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in El Paso Electric by 63.2% during the 3rd quarter. Wells Fargo & Company MN now owns 198,546 shares of the utilities provider’s stock worth $10,969,000 after purchasing an additional 76,908 shares during the last quarter. 97.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE EE opened at $49.60 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.05. El Paso Electric has a 12 month low of $48.05 and a 12 month high of $61.15. The company has a market cap of $2,047.28, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.38.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). El Paso Electric had a net margin of 10.13% and a return on equity of 8.39%. The business had revenue of $196.10 million for the quarter, compared to analyst estimates of $234.32 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. equities research analysts forecast that El Paso Electric will post 2.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, March 15th. El Paso Electric’s payout ratio is 55.37%.
EE has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Mizuho restated a “hold” rating and set a $54.00 price objective on shares of El Paso Electric in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $58.50.
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About El Paso Electric
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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