Sterling Capital Management LLC trimmed its stake in shares of El Paso Electric Company (NYSE:EE) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 419,631 shares of the utilities provider’s stock after selling 168 shares during the quarter. Sterling Capital Management LLC owned approximately 1.03% of El Paso Electric worth $21,695,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in El Paso Electric during the 2nd quarter valued at $750,000. Cubist Systematic Strategies LLC bought a new position in El Paso Electric during the 2nd quarter valued at $294,000. Sciencast Management LP bought a new position in El Paso Electric during the 2nd quarter valued at $202,000. State Street Corp boosted its stake in El Paso Electric by 2.6% during the 2nd quarter. State Street Corp now owns 1,083,231 shares of the utilities provider’s stock valued at $56,009,000 after acquiring an additional 27,558 shares during the last quarter. Finally, Shelton Capital Management bought a new position in El Paso Electric during the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
A number of research analysts have commented on EE shares. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. BidaskClub downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Jefferies Group LLC reissued a “hold” rating and set a $57.00 target price (up from $56.00) on shares of El Paso Electric in a report on Friday, October 6th. Finally, Mizuho began coverage on shares of El Paso Electric in a report on Thursday, August 17th. They set a “neutral” rating and a $55.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.50.
Shares of El Paso Electric Company (EE) traded up 0.69% during mid-day trading on Friday, hitting $58.60. 46,995 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $55.70 and a 200-day moving average price of $53.10. El Paso Electric Company has a 52 week low of $42.83 and a 52 week high of $58.70. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 21.17 and a beta of 0.47.
El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The firm had revenue of $251.84 million for the quarter. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities analysts anticipate that El Paso Electric Company will post $2.58 EPS for the current year.
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El Paso Electric Company Profile
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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