Louisiana State Employees Retirement System continued to hold its stake in shares of El Paso Electric Company (NYSE:EE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,500 shares of the utilities provider’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in El Paso Electric were worth $853,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Neuburgh Advisers LLC raised its stake in shares of El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock worth $104,000 after buying an additional 22 shares during the last quarter. Tyers Asset Management LLC raised its position in El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock valued at $133,000 after buying an additional 28 shares in the last quarter. Flinton Capital Management LLC raised its position in El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock valued at $161,000 after buying an additional 34 shares in the last quarter. State of Alaska Department of Revenue raised its position in El Paso Electric by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the utilities provider’s stock valued at $226,000 after buying an additional 90 shares in the last quarter. Finally, Arizona State Retirement System raised its position in El Paso Electric by 1.0% in the first quarter. Arizona State Retirement System now owns 21,101 shares of the utilities provider’s stock valued at $1,066,000 after buying an additional 200 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.
El Paso Electric Company (EE) traded up 0.143% during trading on Wednesday, hitting $52.625. The stock had a trading volume of 47,526 shares. The company has a market cap of $2.13 billion, a P/E ratio of 21.665 and a beta of 0.48. The company has a 50 day moving average of $52.00 and a 200-day moving average of $50.32. El Paso Electric Company has a 12-month low of $42.49 and a 12-month high of $55.45.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. El Paso Electric had a return on equity of 9.34% and a net margin of 10.95%. During the same period last year, the company posted $0.55 EPS. On average, equities analysts predict that El Paso Electric Company will post $2.48 EPS for the current year.
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Several research firms have recently weighed in on EE. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. BidaskClub lowered El Paso Electric from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC lifted their price objective on El Paso Electric from $48.50 to $52.00 and gave the company a “hold” rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. El Paso Electric has an average rating of “Hold” and an average target price of $51.33.
In other El Paso Electric news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $52.47, for a total value of $183,645.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $524,700. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.
About El Paso Electric
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was 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. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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