Shares of El Paso Electric Co. (NYSE:EE) rose 2.2% during mid-day trading on Wednesday . The company traded as high as $46.22 and last traded at $46.15, with a volume of 225,143 shares changing hands. The stock had previously closed at $45.17.

EE has been the subject of a number of research analyst reports. Jefferies Group reiterated a “hold” rating and set a $47.00 price target (up previously from $44.00) on shares of El Paso Electric in a research report on Saturday, May 7th. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th.

The stock’s 50 day moving average price is $47.03 and its 200 day moving average price is $44.76. The firm has a market capitalization of $1.87 billion and a PE ratio of 25.28.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by $0.25. During the same quarter in the previous year, the company earned $0.52 EPS. The company earned $217.87 million during the quarter, compared to analysts’ expectations of $219.50 million. Analysts forecast that El Paso Electric Co. will post $2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, September 12th.

A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. 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. 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. New York State Common Retirement Fund boosted its position in El Paso Electric by 23.8% in the fourth quarter. New York State Common Retirement Fund now owns 53,352 shares of the company’s stock worth $2,054,000 after buying an additional 10,258 shares in the last quarter. State of Wisconsin Investment Board boosted its position in El Paso Electric by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 81,266 shares of the company’s stock worth $3,129,000 after buying an additional 2,430 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in El Paso Electric by 311.7% in the fourth quarter. Bank of Montreal Can now owns 83,742 shares of the company’s stock worth $3,225,000 after buying an additional 63,401 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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