El Paso Electric Co. (EE) Position Decreased by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in shares of El Paso Electric Co. (NYSE:EE) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 206,616 shares of the company’s stock after selling 13,990 shares during the period. Prudential Financial Inc. owned approximately 0.51% of El Paso Electric worth $9,767,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in EE. Aperio Group LLC increased its stake in shares of El Paso Electric by 19.7% in the first quarter. Aperio Group LLC now owns 26,907 shares of the company’s stock worth $1,234,000 after buying an additional 4,433 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $863,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $555,000. Ngam Advisors L.P. purchased a new stake in shares of El Paso Electric during the first quarter worth approximately $4,773,000. Finally, BlackRock Inc. increased its stake in shares of El Paso Electric by 454.5% in the first quarter. BlackRock Inc. now owns 35,215 shares of the company’s stock worth $1,616,000 after buying an additional 28,864 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.
El Paso Electric Co. (NYSE:EE) traded down 0.75% on Thursday, hitting $43.94. 18,546 shares of the company were exchanged. The firm has a 50 day moving average of $46.14 and a 200-day moving average of $45.85. El Paso Electric Co. has a 52-week low of $35.32 and a 52-week high of $48.75. The stock has a market cap of $1.78 billion, a PE ratio of 24.06 and a beta of 0.33.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.25. The firm earned $217.87 million during the quarter, compared to the consensus estimate of $219.50 million. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities analysts expect that El Paso Electric Co. will post $2.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, September 12th. El Paso Electric’s dividend payout ratio (DPR) is 67.76%.
EE has been the topic of a number of recent analyst reports. Jefferies Group reissued a “hold” rating on shares of El Paso Electric in a research report on Monday, June 13th. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Finally, Argus reaffirmed a “hold” rating on shares of El Paso Electric in a research report on Wednesday.
About El Paso Electric
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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