TD Securities restated their hold rating on shares of Empire District Electric Co. (NYSE:EDE) in a research note released on Thursday morning. They currently have a $20.00 target price on the stock.

A number of other research analysts have also recently commented on the stock. Scotiabank restated a sector perform rating and issued a $23.00 price target on shares of Empire District Electric in a report on Wednesday, September 14th. RBC Capital Markets restated a sector perform rating and issued a $22.00 price target on shares of Empire District Electric in a report on Friday, September 9th. Barclays PLC lowered shares of Empire District Electric from an equal weight rating to an underweight rating and lowered their price objective for the stock from $24.00 to $19.00 in a research note on Friday, July 1st. Raymond James Financial Inc. reaffirmed a market perform rating and issued a $24.00 price objective (down from $26.00) on shares of Empire District Electric in a research note on Thursday, June 23rd. Finally, Zacks Investment Research raised shares of Empire District Electric from a sell rating to a hold rating in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Empire District Electric has an average rating of Hold and a consensus price target of $24.50.

Shares of Empire District Electric (NYSE:EDE) opened at 34.13 on Thursday. Empire District Electric has a 52 week low of $21.40 and a 52 week high of $34.14. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.68 and a beta of 0.20. The stock has a 50 day moving average of $33.86 and a 200-day moving average of $33.64.

Empire District Electric (NYSE:EDE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. Empire District Electric had a net margin of 11.47% and a return on equity of 7.90%. On average, analysts anticipate that Empire District Electric will post $1.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, August 30th. Empire District Electric’s payout ratio is 77.61%.

Several hedge funds have recently added to or reduced their stakes in the stock. Pioneer Investment Management Inc. bought a new position in shares of Empire District Electric during the fourth quarter valued at approximately $3,304,000. Norges Bank bought a new position in shares of Empire District Electric during the fourth quarter valued at approximately $10,415,000. Virginia Retirement System bought a new position in shares of Empire District Electric during the first quarter valued at approximately $516,000. BlackRock Inc. raised its position in shares of Empire District Electric by 29.4% in the first quarter. BlackRock Inc. now owns 3,260 shares of the company’s stock valued at $107,000 after buying an additional 741 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Empire District Electric by 13.9% in the first quarter. BlackRock Group LTD now owns 46,677 shares of the company’s stock valued at $1,542,000 after buying an additional 5,698 shares during the last quarter. 64.00% of the stock is owned by institutional investors and hedge funds.

Empire District Electric Company Profile

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 services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.

5 Day Chart for NYSE:EDE

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