El Paso Electric Co. (EE) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. raised its stake in shares of El Paso Electric Co. (NYSE:EE) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 950,544 shares of the company’s stock after buying an additional 26,981 shares during the period. Macquarie Group Ltd. owned 2.35% of El Paso Electric worth $44,932,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of EE. Mason Street Advisors LLC purchased a new position in El Paso Electric during the second quarter valued at $374,000. Schwab Charles Investment Management Inc. increased its position in El Paso Electric by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 214,175 shares of the company’s stock valued at $10,125,000 after buying an additional 3,609 shares during the period. Stifel Financial Corp increased its position in El Paso Electric by 1.5% in the second quarter. Stifel Financial Corp now owns 6,002 shares of the company’s stock valued at $284,000 after buying an additional 91 shares during the period. Amalgamated Bank purchased a new position in El Paso Electric during the second quarter valued at $226,000. Finally, Legal & General Group Plc increased its position in El Paso Electric by 5.1% in the second quarter. Legal & General Group Plc now owns 109,964 shares of the company’s stock valued at $5,193,000 after buying an additional 5,354 shares during the period. 97.65% of the stock is currently owned by institutional investors.
Shares of El Paso Electric Co. (NYSE:EE) traded up 0.34% during trading on Friday, reaching $44.35. The company had a trading volume of 418,021 shares. The firm has a market capitalization of $1.80 billion, a P/E ratio of 19.55 and a beta of 0.41. El Paso Electric Co. has a 12 month low of $35.32 and a 12 month high of $48.75. The firm’s 50 day moving average price is $45.03 and its 200 day moving average price is $45.73.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, November 2nd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by $0.06. El Paso Electric had a return on equity of 8.95% and a net margin of 10.48%. The business had revenue of $323.23 million for the quarter, compared to analyst estimates of $289.71 million. During the same quarter in the previous year, the firm posted $1.40 EPS. Equities analysts predict that El Paso Electric Co. will post $2.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 12th. El Paso Electric’s payout ratio is 54.63%.
Several equities analysts have recently weighed in on the company. Jefferies Group downgraded El Paso Electric from a “buy” rating to a “hold” rating and decreased their target price for the company from $50.00 to $46.50 in a research report on Tuesday, November 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. Finally, Argus restated a “hold” rating on shares of El Paso Electric in a research report on Wednesday, October 5th.
El Paso Electric Company Profile
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
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