Empire District Electric Co (EDE) Position Reduced by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in Empire District Electric Co (NYSE:EDE) by 19.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,902 shares of the company’s stock after selling 6,330 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Empire District Electric were worth $883,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Water Island Capital LLC increased its stake in shares of Empire District Electric by 46.5% in the third quarter. Water Island Capital LLC now owns 421,788 shares of the company’s stock valued at $14,400,000 after buying an additional 133,922 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Empire District Electric by 27.5% in the third quarter. JPMorgan Chase & Co. now owns 398,895 shares of the company’s stock valued at $13,618,000 after buying an additional 86,008 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Empire District Electric by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,171,459 shares of the company’s stock valued at $39,994,000 after buying an additional 82,048 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Empire District Electric by 110.0% in the third quarter. SG Americas Securities LLC now owns 148,880 shares of the company’s stock valued at $5,083,000 after buying an additional 77,973 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Empire District Electric by 2,121.4% in the third quarter. BNP Paribas Arbitrage SA now owns 61,156 shares of the company’s stock valued at $2,088,000 after buying an additional 58,403 shares in the last quarter. 65.86% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Empire District Electric (NYSE:EDE)

Shares of Empire District Electric Co (NYSE:EDE) opened at 34.09 on Monday. The stock’s 50 day moving average price is $34.22 and its 200-day moving average price is $34.02. Empire District Electric Co has a 1-year low of $26.20 and a 1-year high of $34.49.

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Several equities research analysts recently issued reports on EDE shares. Scotia Howard Weill reissued a “sector perform” rating and issued a $21.00 price objective on shares of Empire District Electric in a research note on Monday, December 5th. TD Securities reissued a “reduce” rating and issued a $18.00 price objective on shares of Empire District Electric in a research note on Wednesday, December 7th. Finally, Royal Bank of Canada downgraded Empire District Electric from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $18.00 to $16.00 in a research note on Tuesday, December 20th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.13.

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.

5 Day Chart for NYSE:EDE

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