SignalPoint Asset Management LLC held its stake in Empire District Electric Co. (NYSE:EDE) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,793 shares of the company’s stock at the end of the second quarter. SignalPoint Asset Management LLC’s holdings in Empire District Electric were worth $536,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in Empire District Electric during the second quarter worth $110,000. BlackRock Inc. boosted its stake in Empire District Electric by 29.4% in the first quarter. BlackRock Inc. now owns 3,260 shares of the company’s stock worth $107,000 after buying an additional 741 shares during the last quarter. Bank of Montreal Can acquired a new stake in Empire District Electric during the second quarter worth $215,000. Creative Planning boosted its stake in Empire District Electric by 2.1% in the second quarter. Creative Planning now owns 8,151 shares of the company’s stock worth $277,000 after buying an additional 169 shares during the last quarter. Finally, Simmons Bank acquired a new stake in Empire District Electric during the first quarter worth $345,000. 64.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Empire District Electric Co. (NYSE:EDE) traded down 0.18% during trading on Tuesday, hitting $34.08. The stock had a trading volume of 104,167 shares. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 25.64 and a beta of 0.11. Empire District Electric Co. has a 12-month low of $21.43 and a 12-month high of $34.27. The stock’s 50-day moving average is $33.99 and its 200-day moving average is $33.70.
Empire District Electric (NYSE:EDE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Empire District Electric had a return on equity of 7.90% and a net margin of 11.47%. On average, equities research analysts expect that Empire District Electric Co. will post $1.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Tuesday, August 30th. Empire District Electric’s dividend payout ratio is currently 77.61%.
A number of analysts have recently weighed in on the company. Scotiabank reissued a “sector perform” rating and issued a $23.00 price objective on shares of Empire District Electric in a research report on Wednesday, September 14th. RBC Capital Markets reissued a “sector perform” rating and issued a $22.00 price objective on shares of Empire District Electric in a research report on Friday, September 16th. Zacks Investment Research raised Empire District Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, June 8th. TD Securities reissued a “hold” rating and issued a $20.00 price objective on shares of Empire District Electric in a research report on Thursday, September 15th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $21.00 price objective on shares of Empire District Electric in a research report on Monday, September 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Empire District Electric currently has an average rating of “Hold” and a consensus price target of $24.15.
About Empire District Electric
The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.
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