El Paso Electric Co. (NYSE:EE) shares fell 1.9% during trading on Thursday . The company traded as low as $46.59 and last traded at $46.64, with a volume of 92,297 shares trading hands. The stock had previously closed at $47.55.

A number of brokerages have commented on EE. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Jefferies Group reiterated a “hold” rating on shares of El Paso Electric in a research report on Monday, June 13th. Finally, Bank of America Corp. upgraded shares of El Paso Electric from a “neutral” rating to a “buy” rating and set a $30.42 price target on the stock in a research report on Thursday, March 24th.

The stock has a market cap of $1.89 billion and a PE ratio of 25.99. The stock has a 50-day moving average of $45.65 and a 200 day moving average of $43.13.

El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.07. The company earned $113.80 million during the quarter, compared to the consensus estimate of $114.80 million. During the same period in the previous year, the business posted $0.09 EPS. On average, equities analysts forecast that El Paso Electric Co. will post $2.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from El Paso Electric’s previous quarterly dividend of $0.30.

In related news, Director Charles Yamarone sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $45.16, for a total value of $248,380.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $293,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Other hedge funds and institutional investors have bought and sold shares of the company. Russell Frank Co boosted its position in El Paso Electric by 14.9% in the fourth quarter. Russell Frank Co now owns 72,833 shares of the company’s stock worth $2,858,000 after buying an additional 9,418 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in El Paso Electric by 10.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 45,444 shares of the company’s stock worth $1,750,000 after buying an additional 4,455 shares in the last quarter. California State Teachers Retirement System boosted its position in El Paso Electric by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 74,836 shares of the company’s stock worth $2,881,000 after buying an additional 1,165 shares in the last quarter. Rhumbline Advisers boosted its position in El Paso Electric by 1.3% in the fourth quarter. Rhumbline Advisers now owns 72,784 shares of the company’s stock worth $2,802,000 after buying an additional 925 shares in the last quarter. Finally, Comerica Bank boosted its position in El Paso Electric by 0.8% in the fourth quarter. Comerica Bank now owns 41,243 shares of the company’s stock worth $1,576,000 after buying an additional 332 shares in the last quarter.

El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.

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