Flinton Capital Management LLC increased its position in shares of El Paso Electric Company (NYSE:EE) by 77.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,678 shares of the utilities provider’s stock after buying an additional 2,482 shares during the period. Flinton Capital Management LLC’s holdings in El Paso Electric were worth $293,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in El Paso Electric in the first quarter valued at about $176,000. Neuberger Berman Group LLC purchased a new position in El Paso Electric in the second quarter valued at about $221,000. Affinity Investment Advisors LLC purchased a new position in El Paso Electric in the second quarter valued at about $240,000. Balyasny Asset Management LLC purchased a new position in El Paso Electric in the second quarter valued at about $270,000. Finally, Trexquant Investment LP purchased a new position in El Paso Electric in the second quarter valued at about $279,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
Shares of El Paso Electric Company (NYSE:EE) opened at 58.20 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 21.03 and a beta of 0.47. 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 one year low of $42.83 and a one year high of $58.60.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. The business had revenue of $251.84 million for the quarter. During the same quarter in the previous year, the company posted $0.55 EPS. On average, analysts forecast that El Paso Electric Company will post $2.58 earnings per share for the current fiscal year.
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Several equities analysts have issued reports on the company. BidaskClub lowered El Paso Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, September 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, Mizuho assumed coverage on El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $55.50.
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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