Bank of Montreal Can acquired a new stake in El Paso Electric Co. (NYSE:EE) during the second quarter, Holdings Channel reports. The institutional investor acquired 66,892 shares of the company’s stock, valued at approximately $3,162,000.
Other hedge funds have also made changes to their positions in the company. Aperio Group LLC increased its position in El Paso Electric by 19.7% in the first quarter. Aperio Group LLC now owns 26,907 shares of the company’s stock valued at $1,234,000 after buying an additional 4,433 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in El Paso Electric during the first quarter valued at approximately $555,000. Prudential Financial Inc. increased its position in El Paso Electric by 5.5% in the first quarter. Prudential Financial Inc. now owns 220,606 shares of the company’s stock valued at $10,122,000 after buying an additional 11,496 shares in the last quarter. BlackRock Inc. increased its position in El Paso Electric by 454.5% in the first quarter. BlackRock Inc. now owns 35,215 shares of the company’s stock valued at $1,616,000 after buying an additional 28,864 shares in the last quarter. Finally, BlackRock Group LTD increased its position in El Paso Electric by 127.3% in the first quarter. BlackRock Group LTD now owns 125,753 shares of the company’s stock valued at $5,770,000 after buying an additional 70,431 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.
Shares of El Paso Electric Co. (NYSE:EE) traded down 0.23% during midday trading on Friday, hitting $42.95. The stock had a trading volume of 386,472 shares. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 23.52 and a beta of 0.33. The firm’s 50-day moving average price is $45.61 and its 200-day moving average price is $45.77. El Paso Electric Co. has a 1-year low of $35.32 and a 1-year high of $48.75.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by $0.25. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. The company earned $217.87 million during the quarter, compared to the consensus estimate of $219.50 million. During the same period last year, the firm posted $0.52 EPS. Analysts forecast that El Paso Electric Co. will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.24 dividend on an annualized basis and a yield of 2.89%. El Paso Electric’s dividend payout ratio is presently 67.76%.
EE has been the subject of several research reports. Jefferies Group upgraded El Paso Electric from a “hold” rating to a “buy” rating and increased their target price for the company from $47.00 to $52.50 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Argus reissued a “hold” rating on shares of El Paso Electric in a research note on Wednesday, October 5th. Finally, Zacks Investment Research raised El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 11th.
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.
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