Principal Financial Group Inc. raised its stake in El Paso Electric Co. (NYSE:EE) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,530 shares of the company’s stock after buying an additional 10,729 shares during the period. Principal Financial Group Inc. owned about 0.73% of El Paso Electric worth $13,923,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of EE. Emerald Acquisition Ltd. purchased a new position in El Paso Electric during the second quarter valued at $13,494,000. Goldman Sachs Group Inc. boosted its position in El Paso Electric by 440.4% in the first quarter. Goldman Sachs Group Inc. now owns 219,200 shares of the company’s stock valued at $10,057,000 after buying an additional 178,638 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in El Paso Electric by 207.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 238,699 shares of the company’s stock valued at $11,283,000 after buying an additional 160,941 shares during the last quarter. Renaissance Technologies LLC boosted its position in El Paso Electric by 70.9% in the first quarter. Renaissance Technologies LLC now owns 256,000 shares of the company’s stock valued at $11,745,000 after buying an additional 106,200 shares during the last quarter. Finally, Ngam Advisors L.P. purchased a new position in El Paso Electric during the first quarter valued at $4,773,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.
Shares of El Paso Electric Co. (NYSE:EE) opened at 43.50 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 23.82 and a beta of 0.33. The firm’s 50 day moving average is $46.00 and its 200-day moving average is $45.83. El Paso Electric Co. has a 52 week low of $35.32 and a 52 week high of $48.75.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.25. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. The business earned $217.87 million during the quarter, compared to analyst estimates of $219.50 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. Equities research analysts predict that El Paso Electric Co. will post $2.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.24 annualized dividend and a yield of 2.85%. El Paso Electric’s dividend payout ratio is currently 67.76%.
Several research firms have weighed in on EE. Argus reiterated a “hold” rating on shares of El Paso Electric in a research report on Wednesday. Jefferies Group reiterated a “buy” rating and set a $52.50 price objective on shares of El Paso Electric in a research report on Friday, September 23rd. Finally, 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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