Affinity Investment Advisors LLC purchased a new position in El Paso Electric Company (NYSE:EE) during the second quarter, according to its most recent filing with the SEC. The firm purchased 4,644 shares of the utilities provider’s stock, valued at approximately $240,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its position in El Paso Electric by 7.6% in the first quarter. Stifel Financial Corp now owns 7,018 shares of the utilities provider’s stock worth $357,000 after buying an additional 494 shares during the last quarter. PNC Financial Services Group Inc. increased its position in El Paso Electric by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 10,152 shares of the utilities provider’s stock worth $512,000 after buying an additional 1,082 shares during the last quarter. KAMES CAPITAL plc bought a new position in El Paso Electric during the first quarter worth about $798,000. Nationwide Fund Advisors increased its position in El Paso Electric by 3.4% in the first quarter. Nationwide Fund Advisors now owns 77,165 shares of the utilities provider’s stock worth $3,897,000 after buying an additional 2,515 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in El Paso Electric by 2,605.0% in the first quarter. Martingale Asset Management L P now owns 127,218 shares of the utilities provider’s stock worth $6,425,000 after buying an additional 122,515 shares during the last quarter. Hedge funds and other institutional investors own 96.36% of the company’s stock.
El Paso Electric Company (NYSE EE) opened at 53.25 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of 19.24 and a beta of 0.48. El Paso Electric Company has a 12-month low of $42.49 and a 12-month high of $55.45. The firm’s 50-day moving average is $52.22 and its 200 day moving average is $50.89.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.14. The business had revenue of $251.84 million for the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same quarter last year, the firm earned $0.55 EPS. Equities analysts forecast that El Paso Electric Company will post $2.54 earnings per share for the current year.
EE has been the topic of a number of research reports. BidaskClub downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Mizuho initiated coverage on shares of El Paso Electric in a research report on Thursday. They set a “neutral” rating and a $55.00 target price on the stock. Finally, Jefferies Group LLC boosted their target price on shares of El Paso Electric from $48.50 to $52.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $53.25.
In other El Paso Electric news, Director Charles Yamarone sold 3,500 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $524,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company 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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