Quantbot Technologies LP Invests $179,000 in El Paso Electric (EE) Stock
Quantbot Technologies LP purchased a new stake in shares of El Paso Electric (NYSE:EE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,252 shares of the utilities provider’s stock, valued at approximately $179,000.
A number of other hedge funds have also made changes to their positions in EE. Investment Counselors of Maryland LLC bought a new stake in El Paso Electric during the 3rd quarter valued at $13,369,000. Lord Abbett & CO. LLC grew its stake in shares of El Paso Electric by 160.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock worth $18,059,000 after acquiring an additional 215,109 shares in the last quarter. AHL Partners LLP grew its stake in shares of El Paso Electric by 1,142.2% in the 2nd quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock worth $8,861,000 after acquiring an additional 157,594 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of El Paso Electric by 23.7% in the 2nd quarter. Renaissance Technologies LLC now owns 709,337 shares of the utilities provider’s stock worth $36,673,000 after acquiring an additional 135,837 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of El Paso Electric by 8.3% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.
Shares of El Paso Electric (NYSE EE) opened at $60.25 on Friday. El Paso Electric has a one year low of $44.65 and a one year high of $61.15. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The stock has a market cap of $2,420.00, a price-to-earnings ratio of 25.38, a PEG ratio of 4.69 and a beta of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is currently 56.07%.
Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. ValuEngine lowered shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Mizuho assumed coverage on shares of El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Jefferies Group lowered shares of El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. El Paso Electric currently has a consensus rating of “Hold” and an average target price of $56.60.
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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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