Citadel Advisors LLC Reduces Holdings in El Paso Electric (NYSE:EE)

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Citadel Advisors LLC trimmed its position in shares of El Paso Electric (NYSE:EE) by 65.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 261,059 shares of the utilities provider’s stock after selling 497,899 shares during the quarter. Citadel Advisors LLC owned approximately 0.64% of El Paso Electric worth $17,073,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EE. Geode Capital Management LLC increased its position in shares of El Paso Electric by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 425,158 shares of the utilities provider’s stock worth $21,312,000 after purchasing an additional 25,821 shares in the last quarter. Mason Street Advisors LLC grew its holdings in El Paso Electric by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 13,084 shares of the utilities provider’s stock valued at $770,000 after buying an additional 447 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in El Paso Electric by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,761 shares of the utilities provider’s stock valued at $927,000 after buying an additional 285 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in El Paso Electric by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 642,258 shares of the utilities provider’s stock valued at $37,777,000 after buying an additional 4,722 shares in the last quarter. Finally, Laurion Capital Management LP grew its holdings in El Paso Electric by 216.3% in the 1st quarter. Laurion Capital Management LP now owns 19,392 shares of the utilities provider’s stock valued at $1,141,000 after buying an additional 13,261 shares in the last quarter. Hedge funds and other institutional investors own 91.94% of the company’s stock.

EE traded down $0.01 during mid-day trading on Friday, hitting $66.79. 430,646 shares of the stock were exchanged, compared to its average volume of 211,840. The firm’s fifty day moving average is $66.59 and its two-hundred day moving average is $62.95. El Paso Electric has a 1-year low of $47.99 and a 1-year high of $67.20. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19. The company has a market cap of $2.72 billion, a PE ratio of 29.92, a PEG ratio of 4.63 and a beta of 0.55.

El Paso Electric (NYSE:EE) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.14). The firm had revenue of $203.08 million for the quarter. El Paso Electric had a return on equity of 7.79% and a net margin of 10.39%.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, September 13th. El Paso Electric’s dividend payout ratio is currently 66.09%.

Several brokerages have issued reports on EE. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, August 5th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.00.

In other El Paso Electric news, Director Edward Escudero sold 15,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $66.37, for a total value of $995,550.00. Following the sale, the director now owns 17,252 shares of the company’s stock, valued at approximately $1,145,015.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Wertheimer sold 25,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $66.40, for a total value of $1,660,000.00. Following the completion of the sale, the director now directly owns 27,376 shares in the company, valued at approximately $1,817,766.40. The disclosure for this sale can be found here. Insiders sold a total of 64,094 shares of company stock worth $4,254,910 in the last ninety days. 1.21% of the stock is owned by corporate insiders.

About El Paso Electric

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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