Comerica Bank Lowers Holdings in El Paso Electric (EE)

Comerica Bank lowered its stake in shares of El Paso Electric (NYSE:EE) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,270 shares of the utilities provider’s stock after selling 5,894 shares during the period. Comerica Bank owned 0.27% of El Paso Electric worth $6,396,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EE. Arizona State Retirement System lifted its holdings in shares of El Paso Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after acquiring an additional 100 shares during the last quarter. Investment Counselors of Maryland LLC bought a new stake in shares of El Paso Electric during the 3rd quarter worth $13,369,000. Balyasny Asset Management LLC bought a new stake in El Paso Electric in the second quarter worth $270,000. GSA Capital Partners LLP bought a new stake in El Paso Electric in the second quarter worth $607,000. Finally, Principal Financial Group Inc. lifted its stake in El Paso Electric by 9.4% in the second quarter. Principal Financial Group Inc. now owns 346,809 shares of the utilities provider’s stock worth $17,930,000 after purchasing an additional 29,758 shares during the last quarter. Institutional investors and hedge funds own 98.86% of the company’s stock.

Several analysts have weighed in on EE shares. Jefferies Group downgraded shares of El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Bank of America cut shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Wednesday, November 22nd. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, Mizuho reiterated a “hold” rating and set a $56.00 price target on shares of El Paso Electric in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. El Paso Electric currently has a consensus rating of “Hold” and an average price target of $56.60.

Shares of El Paso Electric (EE) traded up $0.25 during midday trading on Wednesday, hitting $59.20. 157,092 shares of the stock traded hands, compared to its average volume of 194,110. The company has a market capitalization of $2,400.00, a P/E ratio of 25.02, a PEG ratio of 4.62 and a beta of 0.47. El Paso Electric has a 52-week low of $44.70 and a 52-week high of $61.15. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 1.05.

El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.23). The firm had revenue of $297.47 million during the quarter, compared to the consensus estimate of $310.00 million. El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. equities research analysts forecast that El Paso Electric will post 2.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 dividend on an annualized basis and a yield of 2.26%. El Paso Electric’s dividend payout ratio is currently 56.07%.

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El Paso Electric Company Profile

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).

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

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