Los Angeles Capital Management & Equity Research Inc. lifted its position in El Paso Electric (NYSE:EE) by 157.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,220 shares of the utilities provider’s stock after purchasing an additional 18,480 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.07% of El Paso Electric worth $1,778,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of El Paso Electric by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,178,968 shares of the utilities provider’s stock worth $309,753,000 after acquiring an additional 197,600 shares during the last quarter. Vanguard Group Inc. lifted its position in El Paso Electric by 3.9% during the third quarter. Vanguard Group Inc. now owns 4,369,640 shares of the utilities provider’s stock worth $249,943,000 after buying an additional 163,641 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in El Paso Electric by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,780 shares of the utilities provider’s stock worth $50,319,000 after buying an additional 6,631 shares in the last quarter. Macquarie Group Ltd. lifted its position in El Paso Electric by 1.7% during the fourth quarter. Macquarie Group Ltd. now owns 1,000,851 shares of the utilities provider’s stock worth $50,173,000 after buying an additional 17,177 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in El Paso Electric by 3.8% during 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 in the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.
EE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Bank of America restated a “neutral” rating and issued a $55.00 target price (up previously from $49.00) on shares of El Paso Electric in a research report on Friday, March 1st. Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and lifted their target price for the company from $49.00 to $53.00 in a research report on Monday, March 4th. TheStreet downgraded El Paso Electric from a “b” rating to a “c+” rating in a research report on Wednesday, February 27th. Finally, Mizuho boosted their price objective on El Paso Electric from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, March 29th. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $58.00.
Shares of EE stock traded down $0.30 on Wednesday, hitting $58.20. The stock had a trading volume of 729,300 shares, compared to its average volume of 269,740. El Paso Electric has a 1 year low of $47.99 and a 1 year high of $64.35. The company has a market capitalization of $2.42 billion, a PE ratio of 24.98, a P/E/G ratio of 4.75 and a beta of 0.51. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.11.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.29). El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. The company had revenue of $174.36 million for the quarter. Research analysts predict that El Paso Electric will post 2.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 2.65%. This is a boost from El Paso Electric’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 13th. El Paso Electric’s payout ratio is presently 61.80%.
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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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