Short Interest in El Paso Electric (NYSE:EE) Expands By 43.6%

El Paso Electric (NYSE:EE) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 771,800 shares, an increase of 43.6% from the May 30th total of 537,300 shares. Based on an average daily trading volume, of 445,700 shares, the short-interest ratio is presently 1.7 days. Approximately 1.9% of the shares of the company are sold short.

A number of large investors have recently made changes to their positions in the business. Sageworth Trust Co boosted its position in shares of El Paso Electric by 30.8% in the first quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock worth $46,000 after buying an additional 185 shares during the period. Quadrant Capital Group LLC boosted its position in shares of El Paso Electric by 1,552.8% in the first quarter. Quadrant Capital Group LLC now owns 1,190 shares of the utilities provider’s stock worth $69,000 after buying an additional 1,118 shares during the period. NumerixS Investment Technologies Inc purchased a new position in El Paso Electric in the fourth quarter valued at about $65,000. Crossmark Global Holdings Inc. purchased a new position in El Paso Electric in the first quarter valued at about $204,000. Finally, Yorktown Management & Research Co Inc purchased a new position in El Paso Electric in the first quarter valued at about $206,000. Institutional investors own 94.24% of the company’s stock.

Several research analysts have weighed in on EE shares. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. Finally, Mizuho lifted their target price on El Paso Electric from $50.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, March 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. El Paso Electric presently has a consensus rating of “Hold” and an average target price of $60.00.

EE traded down $0.05 during trading on Friday, reaching $66.05. 86,200 shares of the stock were exchanged, compared to its average volume of 343,583. El Paso Electric has a 1 year low of $47.99 and a 1 year high of $66.83. The firm has a market capitalization of $2.69 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 4.58 and a beta of 0.60. The stock’s 50 day moving average price is $64.05. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.52 and a quick ratio of 0.37.

El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.29). The business had revenue of $174.36 million during the quarter. El Paso Electric had a net margin of 10.79% and a return on equity of 8.61%. Equities research analysts anticipate that El Paso Electric will post 2.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Thursday, June 13th. This is a positive change from El Paso Electric’s previous quarterly dividend of $0.36. This represents a $1.54 annualized dividend and a yield of 2.33%. El Paso Electric’s dividend payout ratio is currently 66.09%.

About El Paso Electric

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

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