The Manufacturers Life Insurance Company Has $1.62 Million Stake in El Paso Electric Company (EE)
The Manufacturers Life Insurance Company trimmed its stake in shares of El Paso Electric Company (NYSE:EE) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,314 shares of the utilities provider’s stock after selling 100 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of El Paso Electric worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in shares of El Paso Electric during the second quarter worth about $294,000. Sciencast Management LP bought a new position in shares of El Paso Electric during the second quarter worth about $202,000. State Street Corp raised its position in shares of El Paso Electric by 2.6% during the second quarter. State Street Corp now owns 1,083,231 shares of the utilities provider’s stock worth $56,009,000 after acquiring an additional 27,558 shares during the last quarter. Shelton Capital Management bought a new position in shares of El Paso Electric during the second quarter worth about $208,000. Finally, Macquarie Group Ltd. raised its position in shares of El Paso Electric by 8.3% during the second quarter. Macquarie Group Ltd. now owns 1,068,245 shares of the utilities provider’s stock worth $55,228,000 after acquiring an additional 81,990 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.
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Shares of El Paso Electric Company (EE) opened at $57.95 on Wednesday. The firm has a market capitalization of $2,332.00, a P/E ratio of 23.94, a price-to-earnings-growth 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 Company has a 1-year low of $43.90 and a 1-year high of $58.70.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million during the quarter, compared to the consensus estimate of $310.00 million. El Paso Electric had a return on equity of 8.56% and a net margin of 10.13%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. equities analysts anticipate that El Paso Electric Company will post 2.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.335 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.34 dividend on an annualized basis and a yield of 2.31%. El Paso Electric’s payout ratio is currently 55.83%.
A number of equities analysts have recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $56.00 price objective (up from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. Mizuho restated a “hold” rating and set a $55.00 price objective on shares of El Paso Electric in a research report on Friday, October 27th. BidaskClub upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Bank of America Corporation started coverage on El Paso Electric in a report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.60.
El Paso Electric 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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