Victory Capital Management Inc. lessened its position in shares of El Paso Electric Company (NYSE:EE) by 27.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 726,121 shares of the utilities provider’s stock after selling 280,175 shares during the quarter. Victory Capital Management Inc. owned approximately 1.79% of El Paso Electric worth $40,118,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EE. Amalgamated Bank lifted its stake in El Paso Electric by 1.0% during the 2nd quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock valued at $286,000 after acquiring an additional 55 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of El Paso Electric by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 90 shares during the period. Arizona State Retirement System raised its stake in shares of El Paso Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund raised its stake in El Paso Electric by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock valued at $1,531,000 after acquiring an additional 248 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in El Paso Electric by 4.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock valued at $495,000 after acquiring an additional 370 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the company. Mizuho reaffirmed a “hold” rating and set a $55.00 target price on shares of El Paso Electric in a report on Friday, October 27th. Bank of America Corporation assumed coverage on El Paso Electric in a report on Tuesday, October 24th. They set a “buy” rating and a $62.00 target price for the company. Jefferies Group LLC lowered El Paso Electric from a “hold” rating to an “underperform” rating in a report on Monday, October 16th. ValuEngine lowered El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research lowered El Paso Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.60.

Shares of El Paso Electric Company (NYSE:EE) opened at $57.95 on Wednesday. El Paso Electric Company has a 12 month low of $43.90 and a 12 month high of $58.70. The company has a market capitalization of $2,332.00, a price-to-earnings ratio of 23.94, a PEG ratio of 4.20 and a beta of 0.47. The company has a quick ratio of 0.41, a current ratio of 0.54 and a debt-to-equity ratio of 1.10.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.23). El Paso Electric had a net margin of 10.13% and a return on equity of 8.56%. The business had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $310.00 million. During the same period last year, the business earned $1.84 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. equities research analysts anticipate that El Paso Electric Company will post 2.55 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is currently 55.83%.

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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).

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

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