Keeley Teton Advisors LLC trimmed its position in El Paso Electric (NYSE:EE) by 8.1% during the fourth quarter, Holdings Channel reports. The fund owned 24,920 shares of the utilities provider’s stock after selling 2,200 shares during the quarter. Keeley Teton Advisors LLC’s holdings in El Paso Electric were worth $1,379,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in EE. Quantbot Technologies LP bought a new position in El Paso Electric in the third quarter valued at approximately $179,000. Dean Capital Investments Management LLC bought a new position in El Paso Electric in the fourth quarter valued at approximately $306,000. Sawgrass Asset Management LLC bought a new position in El Paso Electric in the fourth quarter valued at approximately $306,000. Koch Industries Inc. bought a new position in El Paso Electric in the fourth quarter valued at approximately $353,000. Finally, Crossmark Global Holdings Inc. bought a new position in El Paso Electric in the third quarter valued at approximately $385,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of El Paso Electric (NYSE:EE) opened at $48.50 on Friday. El Paso Electric has a 52-week low of $47.65 and a 52-week high of $61.15. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.33. The firm has a market cap of $1,972.06, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 3.69 and a beta of 0.43.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be given a $0.335 dividend. The ex-dividend date is Thursday, March 15th. This represents a $1.34 dividend on an annualized basis and a yield of 2.76%. El Paso Electric’s dividend payout ratio is currently 55.37%.
A number of research analysts recently issued reports on EE shares. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Mizuho reissued a “hold” rating and issued a $54.00 price objective on shares of El Paso Electric in a research note on Wednesday, January 10th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Bank of America cut shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.50.
About El Paso Electric
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was 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. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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