New York State Common Retirement Fund increased its position in El Paso Electric (NYSE:EE) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,600 shares of the utilities provider’s stock after acquiring an additional 1,800 shares during the period. New York State Common Retirement Fund’s holdings in El Paso Electric were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Sageworth Trust Co grew its position in shares of El Paso Electric by 30.8% during the 1st quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 185 shares during the period. Ellis Investment Partners LLC acquired a new position in El Paso Electric in the first quarter valued at approximately $60,000. NumerixS Investment Technologies Inc acquired a new position in El Paso Electric in the fourth quarter valued at approximately $65,000. Quadrant Capital Group LLC lifted its stake in 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 valued at $69,000 after buying an additional 1,118 shares during the period. Finally, Strs Ohio raised its position in shares of El Paso Electric by 260.0% during the fourth quarter. Strs Ohio now owns 1,800 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 94.27% of the company’s stock.
A number of equities analysts have recently weighed in on the company. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zacks Investment Research raised El Paso Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. TheStreet upgraded El Paso Electric from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. Mizuho upped their price target on El Paso Electric from $50.00 to $58.00 and gave the stock a “neutral” rating in a report on Friday, March 29th. Finally, Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and upped their price target for the stock from $49.00 to $53.00 in a report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.00.
Shares of El Paso Electric stock opened at $65.32 on Thursday. El Paso Electric has a 12-month low of $47.99 and a 12-month high of $66.83. The firm has a market cap of $2.64 billion, a P/E ratio of 28.03, a P/E/G ratio of 4.49 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.11.
El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.29). El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. The company had revenue of $174.36 million for the quarter. On average, equities analysts anticipate that El Paso Electric will post 2.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.385 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.54 annualized dividend and a yield of 2.36%. This is an increase from El Paso Electric’s previous quarterly dividend of $0.36. El Paso Electric’s dividend payout ratio is 61.80%.
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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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