California Public Employees Retirement System lowered its stake in shares of Empire District Electric Co. (NYSE:EDE) by 4.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 114,300 shares of the company’s stock after selling 5,800 shares during the period. California Public Employees Retirement System owned about 0.26% of Empire District Electric worth $3,902,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of EDE. Cribstone Capital Management LLC purchased a new stake in Empire District Electric during the second quarter worth approximately $110,000. Teacher Retirement System of Texas boosted its stake in Empire District Electric by 9.0% in the second quarter. Teacher Retirement System of Texas now owns 5,861 shares of the company’s stock worth $199,000 after buying an additional 486 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Empire District Electric during the second quarter worth approximately $201,000. Bank of Montreal Can purchased a new stake in Empire District Electric during the second quarter worth approximately $215,000. Finally, Commonwealth Equity Services Inc boosted its stake in Empire District Electric by 15.8% in the second quarter. Commonwealth Equity Services Inc now owns 7,469 shares of the company’s stock worth $254,000 after buying an additional 1,018 shares in the last quarter. Institutional investors own 66.02% of the company’s stock.

Institutional Ownership by Quarter for Empire District Electric (NYSE:EDE)

Shares of Empire District Electric Co. (NYSE:EDE) traded down 0.15% during midday trading on Wednesday, reaching $34.03. 247,476 shares of the company traded hands. Empire District Electric Co. has a 12-month low of $22.18 and a 12-month high of $34.49. The company has a 50-day moving average of $34.27 and a 200 day moving average of $33.94. The firm has a market capitalization of $1.50 billion, a PE ratio of 24.82 and a beta of 0.11.

Empire District Electric (NYSE:EDE) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. Empire District Electric had a net margin of 10.78% and a return on equity of 8.13%. On average, equities analysts forecast that Empire District Electric Co. will post $1.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.06%. The ex-dividend date is Tuesday, November 29th. Empire District Electric’s dividend payout ratio (DPR) is currently 75.36%.

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EDE has been the subject of a number of research analyst reports. TD Securities reaffirmed a “hold” rating and issued a $20.00 target price on shares of Empire District Electric in a research note on Thursday, September 15th. Barclays PLC reaffirmed an “underweight” rating and issued a $18.00 target price (down from $19.00) on shares of Empire District Electric in a research note on Monday, September 19th. Dundee Securities reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Empire District Electric in a research note on Friday, September 23rd. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of Empire District Electric in a research note on Friday, September 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Empire District Electric in a research note on Monday, September 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.13.

About Empire District Electric

The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.

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