Nuveen Asset Management LLC boosted its position in El Paso Electric (NYSE:EE) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 520,758 shares of the utilities provider’s stock after purchasing an additional 35,827 shares during the quarter. Nuveen Asset Management LLC owned about 1.28% of El Paso Electric worth $26,106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in EE. NumerixS Investment Technologies Inc acquired a new position in El Paso Electric in the 4th quarter valued at about $65,000. Strs Ohio raised its stake in El Paso Electric by 260.0% in the 4th quarter. Strs Ohio now owns 1,800 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 1,300 shares during the last quarter. Quantbot Technologies LP acquired a new position in El Paso Electric in the 3rd quarter valued at about $142,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in El Paso Electric by 36.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,994 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 800 shares during the last quarter. Finally, Verity & Verity LLC acquired a new position in El Paso Electric in the 4th quarter valued at about $226,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Shares of EE stock opened at $57.58 on Thursday. El Paso Electric has a twelve month low of $47.99 and a twelve month high of $64.35. The stock has a market capitalization of $2.34 billion, a P/E ratio of 24.71, a PEG ratio of 9.01 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.55 and a quick ratio of 0.38.

El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.18. El Paso Electric had a return on equity of 8.83% and a net margin of 9.33%. On average, analysts expect that El Paso Electric will post 2.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, March 14th. El Paso Electric’s dividend payout ratio (DPR) is 61.80%.

EE has been the subject of several analyst reports. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Bank of America reissued a “neutral” rating and issued a $55.00 target price (up previously from $49.00) on shares of El Paso Electric in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. El Paso Electric currently has a consensus rating of “Hold” and a consensus target price of $58.00.

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El Paso Electric Profile

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,085 megawatts.

See Also: Return On Assets

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

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