Bessemer Group Inc. increased its stake in El Paso Electric Company (NYSE:EE) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,592 shares of the utilities provider’s stock after buying an additional 392 shares during the period. Bessemer Group Inc.’s holdings in El Paso Electric were worth $2,460,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Neuburgh Advisers LLC raised its position in shares of El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock valued at $104,000 after buying an additional 22 shares during the period. Tyers Asset Management LLC raised its position in shares of El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock valued at $133,000 after buying an additional 28 shares during the period. Flinton Capital Management LLC raised its position in shares of El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock valued at $161,000 after buying an additional 34 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of El Paso Electric during the first quarter valued at approximately $176,000. Finally, State of Alaska Department of Revenue raised its position in shares of El Paso Electric by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the utilities provider’s stock valued at $226,000 after buying an additional 90 shares during the period. 96.93% of the stock is owned by hedge funds and other institutional investors.

Shares of El Paso Electric Company (EE) opened at 53.50 on Thursday. El Paso Electric Company has a 52-week low of $42.49 and a 52-week high of $55.45. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 19.33 and a beta of 0.48. The stock has a 50 day moving average of $52.01 and a 200 day moving average of $50.57.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million for the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period in the prior year, the business earned $0.55 EPS. Equities analysts predict that El Paso Electric Company will post $2.48 EPS for the current fiscal year.

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Several equities analysts recently commented on the stock. BidaskClub lowered shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC increased their price objective on shares of El Paso Electric from $48.50 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $51.33.

In other news, Director Charles Yamarone sold 3,500 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the sale, the director now owns 10,000 shares in the company, valued at $524,700. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.33% of the company’s stock.

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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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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