Shares of Empire District Electric Co. (NYSE:EDE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.04 and last traded at $33.99, with a volume of 67,027 shares changing hands. The stock had previously closed at $33.99.

Several brokerages have issued reports on EDE. Ladenburg Thalmann downgraded shares of Empire District Electric from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. TD Securities reaffirmed a “hold” rating and issued a $22.00 price objective on shares of Empire District Electric in a research report on Sunday, June 26th. Zacks Investment Research raised shares of Empire District Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Barclays PLC downgraded shares of Empire District Electric from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $24.00 to $19.00 in a research report on Friday, July 1st. Finally, Raymond James Financial Inc. reissued a “market perform” rating and set a $24.00 price target (down previously from $26.00) on shares of Empire District Electric in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Empire District Electric has an average rating of “Hold” and a consensus target price of $25.80.

The company has a market cap of $1.49 billion and a P/E ratio of 26.80. The stock’s 50 day moving average price is $33.79 and its 200-day moving average price is $32.40.

Empire District Electric (NYSE:EDE) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. On average, equities analysts anticipate that Empire District Electric Co. will post $1.47 EPS for the current fiscal year.

Other hedge funds and institutional investors have modified their holdings of the company. American Investment Services Inc. raised its position in shares of Empire District Electric by 14.5% in the fourth quarter. American Investment Services Inc. now owns 50,948 shares of the company’s stock worth $1,430,000 after buying an additional 6,436 shares during the period. New York State Common Retirement Fund raised its position in shares of Empire District Electric by 4.4% in the fourth quarter. New York State Common Retirement Fund now owns 51,381 shares of the company’s stock worth $1,442,000 after buying an additional 2,155 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Empire District Electric by 10.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 52,330 shares of the company’s stock worth $1,469,000 after buying an additional 4,831 shares during the period. Nationwide Fund Advisors raised its position in shares of Empire District Electric by 26.0% in the fourth quarter. Nationwide Fund Advisors now owns 54,886 shares of the company’s stock worth $1,541,000 after buying an additional 11,324 shares during the period. Finally, I.G. Investment Management LTD. raised its position in shares of Empire District Electric by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 58,478 shares of the company’s stock worth $1,641,000 after buying an additional 152 shares during the period.

The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides its services with in Missouri, Kansas, Oklahoma and Arkansas. It operates its businesses in three segments: electric, gas and other.

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