William Blair Investment Management LLC decreased its position in shares of El Paso Electric (NYSE:EE) by 9.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 294,868 shares of the utilities provider’s stock after selling 30,042 shares during the period. William Blair Investment Management LLC owned approximately 0.72% of El Paso Electric worth $16,866,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of El Paso Electric by 3.0% in the third quarter. BlackRock Inc. now owns 5,981,368 shares of the utilities provider’s stock worth $342,133,000 after buying an additional 172,037 shares during the period. FMR LLC increased its holdings in shares of El Paso Electric by 11.8% in the second quarter. FMR LLC now owns 2,005,343 shares of the utilities provider’s stock worth $118,516,000 after buying an additional 211,071 shares during the period. Millennium Management LLC increased its holdings in shares of El Paso Electric by 61.8% in the second quarter. Millennium Management LLC now owns 1,644,321 shares of the utilities provider’s stock worth $97,179,000 after buying an additional 627,790 shares during the period. Northern Trust Corp increased its holdings in shares of El Paso Electric by 0.8% in the second quarter. Northern Trust Corp now owns 1,305,183 shares of the utilities provider’s stock worth $77,136,000 after buying an additional 10,528 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of El Paso Electric by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 651,447 shares of the utilities provider’s stock worth $37,262,000 after buying an additional 23,984 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.
Several research firms have recently commented on EE. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. El Paso Electric currently has a consensus rating of “Hold” and a consensus target price of $56.00.
EE opened at $55.52 on Wednesday. The stock has a market capitalization of $2.25 billion, a PE ratio of 22.94, a P/E/G ratio of 4.98 and a beta of 0.28. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.16. El Paso Electric has a 12 month low of $48.05 and a 12 month high of $64.35.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. El Paso Electric had a return on equity of 9.19% and a net margin of 11.67%. The firm had revenue of $300.27 million for the quarter. On average, analysts predict that El Paso Electric will post 2.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.44 dividend on an annualized basis and a yield of 2.59%. El Paso Electric’s dividend payout ratio is presently 59.50%.
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El Paso Electric Company 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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