Ameriprise Financial Inc. lowered its stake in El Paso Electric Co. (NYSE:EE) by 2.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 248,672 shares of the company’s stock after selling 6,086 shares during the period. Ameriprise Financial Inc. owned approximately 0.61% of El Paso Electric worth $11,754,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Neuberger Berman Group LLC acquired a new position in shares of El Paso Electric during the second quarter valued at about $200,000. PNC Financial Services Group Inc. raised its stake in El Paso Electric by 3.4% in the second quarter. PNC Financial Services Group Inc. now owns 6,833 shares of the company’s stock valued at $322,000 after buying an additional 223 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in El Paso Electric during the second quarter valued at approximately $348,000. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in El Paso Electric during the second quarter valued at approximately $355,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in El Paso Electric during the first quarter valued at approximately $555,000. Institutional investors own 96.20% of the company’s stock.
Shares of El Paso Electric Co. (NYSE:EE) traded down 0.36% during trading on Wednesday, hitting $47.57. 80,701 shares of the company traded hands. The company has a 50-day moving average of $46.21 and a 200-day moving average of $45.75. The stock has a market capitalization of $1.93 billion, a PE ratio of 26.05 and a beta of 0.40. El Paso Electric Co. has a 52-week low of $35.32 and a 52-week high of $48.75.
El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.25. The company earned $217.87 million during the quarter, compared to analysts’ expectations of $219.50 million. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts expect that El Paso Electric Co. will post $2.40 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 12th. This represents a $1.24 annualized dividend and a yield of 2.60%. El Paso Electric’s dividend payout ratio (DPR) is currently 67.76%.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Jefferies Group reissued a “buy” rating on shares of El Paso Electric in a research report on Thursday, August 4th.
El Paso Electric Company Profile
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
Receive News & Ratings for El Paso Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.