Barclays PLC reiterated their underweight rating on shares of Empire District Electric Co. (NYSE:EDE) in a research note published on Monday. They currently have a $18.00 price target on the stock, down from their prior price target of $19.00.

Other equities research analysts have also issued research reports about the stock. TD Securities reissued a hold rating and issued a $20.00 price objective on shares of Empire District Electric in a research report on Thursday, September 15th. Scotiabank reaffirmed a sector perform rating and set a $23.00 price target on shares of Empire District Electric in a report on Wednesday, September 14th. Zacks Investment Research raised shares of Empire District Electric from a sell rating to a hold rating in a report on Wednesday, June 15th. RBC Capital Markets reaffirmed a sector perform rating and set a $22.00 price target on shares of Empire District Electric in a report on Friday, September 9th. Finally, Raymond James Financial Inc. reaffirmed a market perform rating and set a $24.00 price target (down from $26.00) on shares of Empire District Electric in a report on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $24.50.

Empire District Electric (NYSE:EDE) opened at 34.07 on Monday. The firm has a 50-day moving average of $33.91 and a 200-day moving average of $33.65. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.64 and a beta of 0.20. Empire District Electric has a 1-year low of $21.40 and a 1-year high of $34.14.

Empire District Electric (NYSE:EDE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the 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 expect that Empire District Electric will post $1.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.05%. Empire District Electric’s dividend payout ratio (DPR) is presently 77.61%.

Hedge funds have recently added to or reduced their stakes in the company. Aristotle Capital Boston LLC boosted its stake in Empire District Electric by 4.3% in the second quarter. Aristotle Capital Boston LLC now owns 219,679 shares of the company’s stock worth $7,462,000 after buying an additional 9,092 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Empire District Electric by 7.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 231,563 shares of the company’s stock worth $7,867,000 after buying an additional 15,861 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Empire District Electric by 12.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 33,279 shares of the company’s stock worth $1,130,000 after buying an additional 3,591 shares during the period. CNH Partners LLC boosted its stake in Empire District Electric by 120.1% in the second quarter. CNH Partners LLC now owns 1,713,586 shares of the company’s stock worth $58,211,000 after buying an additional 934,955 shares during the period. Finally, Water Island Capital LLC boosted its stake in Empire District Electric by 200.6% in the second quarter. Water Island Capital LLC now owns 287,866 shares of the company’s stock worth $9,779,000 after buying an additional 192,103 shares during the period. 64.00% of the stock is currently 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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