Virginia Retirement Systems ET AL acquired a new stake in El Paso Electric Co. (NYSE:EE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,200 shares of the company’s stock, valued at approximately $908,000.
Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC purchased a new stake in shares of El Paso Electric during the second quarter valued at approximately $200,000. PineBridge Investments L.P. raised its stake in shares of El Paso Electric by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,134 shares of the company’s stock valued at $243,000 after buying an additional 188 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of El Paso Electric by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,663 shares of the company’s stock valued at $268,000 after buying an additional 684 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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. Finally, GSA Capital Partners LLP purchased a new stake in shares of El Paso Electric during the second quarter valued at approximately $348,000. 96.20% of the stock is owned by institutional investors.
Shares of El Paso Electric Co. (NYSE:EE) opened at 46.77 on Friday. El Paso Electric Co. has a 12-month low of $35.32 and a 12-month high of $48.75. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 25.61 and a beta of 0.40. The firm’s 50-day moving average price is $46.23 and its 200 day moving average price is $45.80.
El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the consensus estimate 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 business had revenue of $217.87 million for the quarter, compared to analysts’ expectations of $219.50 million. During the same quarter in the prior year, the company posted $0.52 EPS. On average, analysts predict that El Paso Electric Co. will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 2.65%. El Paso Electric’s dividend payout ratio is presently 67.76%.
Several analysts recently commented on the company. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Jefferies Group reissued a “buy” rating on shares of El Paso Electric in a 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.
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