Fmr LLC Acquires 211,071 Shares of El Paso Electric (EE)

Fmr LLC boosted its holdings in El Paso Electric (NYSE:EE) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,005,343 shares of the utilities provider’s stock after acquiring an additional 211,071 shares during the quarter. Fmr LLC’s holdings in El Paso Electric were worth $118,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EE. Chicago Equity Partners LLC bought a new position in El Paso Electric in the 2nd quarter valued at about $210,000. Trexquant Investment LP bought a new position in El Paso Electric in the 1st quarter valued at about $306,000. Riverhead Capital Management LLC lifted its position in El Paso Electric by 13.8% in the 1st quarter. Riverhead Capital Management LLC now owns 9,072 shares of the utilities provider’s stock valued at $463,000 after acquiring an additional 1,100 shares in the last quarter. Flinton Capital Management LLC lifted its position in El Paso Electric by 13.1% in the 1st quarter. Flinton Capital Management LLC now owns 9,112 shares of the utilities provider’s stock valued at $465,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Koch Industries Inc. lifted its position in El Paso Electric by 53.2% in the 1st quarter. Koch Industries Inc. now owns 9,771 shares of the utilities provider’s stock valued at $498,000 after acquiring an additional 3,391 shares in the last quarter. 97.60% of the stock is currently owned by institutional investors and hedge funds.

El Paso Electric stock opened at $61.10 on Friday. El Paso Electric has a 52 week low of $48.05 and a 52 week high of $64.35. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 1.22. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 5.37 and a beta of 0.31.

El Paso Electric (NYSE:EE) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.12). El Paso Electric had a return on equity of 8.12% and a net margin of 10.21%. The firm had revenue of $236.80 million for the quarter. During the same quarter in the prior year, the company posted $0.89 earnings per share. sell-side analysts expect that El Paso Electric will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.44 annualized dividend and a dividend yield of 2.36%. El Paso Electric’s dividend payout ratio is currently 59.50%.

Several equities analysts have commented on the stock. Mizuho reissued a “hold” rating and set a $58.00 target price on shares of El Paso Electric in a research report on Friday, July 20th. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Williams Capital cut shares of El Paso Electric from a “hold” rating to a “sell” rating and dropped their target price for the stock from $52.00 to $49.00 in a research report on Monday, June 11th. Finally, ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.20.

El Paso Electric Profile

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.

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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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