Nationwide Fund Advisors cut its position in shares of El Paso Electric Co. (NYSE:EE) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,284 shares of the company’s stock after selling 3,007 shares during the period. Nationwide Fund Advisors owned approximately 0.19% of El Paso Electric worth $3,653,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Aperio Group LLC boosted its stake in shares of El Paso Electric by 19.7% in the first quarter. Aperio Group LLC now owns 26,907 shares of the company’s stock worth $1,234,000 after buying an additional 4,433 shares during the period. Virginia Retirement System purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $863,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $555,000. Ngam Advisors L.P. purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $4,773,000. Finally, Prudential Financial Inc. boosted its stake in shares of El Paso Electric by 5.5% in the first quarter. Prudential Financial Inc. now owns 220,606 shares of the company’s stock worth $10,122,000 after buying an additional 11,496 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.
El Paso Electric Co. (NYSE:EE) traded down 0.45% during trading on Wednesday, hitting $44.35. 24,414 shares of the stock were exchanged. El Paso Electric Co. has a 52 week low of $35.32 and a 52 week high of $48.75. The stock has a market cap of $1.80 billion, a P/E ratio of 24.29 and a beta of 0.33. The stock has a 50 day moving average of $46.17 and a 200-day moving average of $45.86.
El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.25. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. The company had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities analysts expect that El Paso Electric Co. will post $2.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, September 12th. El Paso Electric’s dividend payout ratio is currently 67.76%.
A number of analysts have commented on EE shares. Jefferies Group reaffirmed a “buy” rating and set a $52.50 price target on shares of El Paso Electric in a research report on Friday, September 23rd. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th.
El Paso Electric Company Profile
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
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