Massachusetts Financial Services Co. MA boosted its position in shares of El Paso Electric (NYSE:EE) by 21.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,235 shares of the utilities provider’s stock after purchasing an additional 60,291 shares during the period. Massachusetts Financial Services Co. MA’s holdings in El Paso Electric were worth $17,250,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Sawgrass Asset Management LLC purchased a new position in El Paso Electric during the fourth quarter worth about $306,000. Dean Capital Investments Management LLC purchased a new position in El Paso Electric during the fourth quarter worth about $306,000. Trexquant Investment LP purchased a new position in El Paso Electric during the first quarter worth about $306,000. Koch Industries Inc. purchased a new stake in shares of El Paso Electric in the 4th quarter valued at approximately $353,000. Finally, Elkfork Partners LLC purchased a new stake in shares of El Paso Electric in the 4th quarter valued at approximately $367,000. 99.75% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on EE. Bank of America reissued a “neutral” rating and issued a $51.00 price target on shares of El Paso Electric in a research note on Friday, May 4th. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. One equities 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. El Paso Electric presently has an average rating of “Hold” and a consensus target price of $55.75.
El Paso Electric opened at $55.40 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $2.21 billion, a PE ratio of 22.89, a P/E/G ratio of 4.10 and a beta of 0.37. El Paso Electric has a 1 year low of $48.05 and a 1 year high of $61.15. The company has a current ratio of 0.38, a quick ratio of 0.25 and a debt-to-equity ratio of 1.07.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Thursday, May 3rd. The utilities provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The company had revenue of $175.71 million during the quarter. El Paso Electric had a net margin of 9.76% and a return on equity of 8.20%. research analysts forecast that El Paso Electric will post 2.6 EPS for the current year.
El Paso Electric Profile
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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