Northpointe Capital LLC Decreases Stake in El Paso Electric Co. (EE)
Northpointe Capital LLC reduced its position in shares of El Paso Electric Co. (NYSE:EE) by 94.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,499 shares of the company’s stock after selling 113,285 shares during the period. Northpointe Capital LLC’s holdings in El Paso Electric were worth $307,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of EE. Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in El Paso Electric during the second quarter valued at $355,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in El Paso Electric during the first quarter valued at $555,000. Capstone Asset Management Co. raised its stake in El Paso Electric by 4.0% in the second quarter. Capstone Asset Management Co. now owns 12,193 shares of the company’s stock valued at $576,000 after buying an additional 470 shares during the period. First Midwest Bank Trust Division raised its stake in El Paso Electric by 46.7% in the second quarter. First Midwest Bank Trust Division now owns 15,957 shares of the company’s stock valued at $754,000 after buying an additional 5,080 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in El Paso Electric by 79.8% in the second quarter. BNP Paribas Arbitrage SA now owns 17,356 shares of the company’s stock valued at $820,000 after buying an additional 7,703 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.
El Paso Electric Co. (NYSE:EE) traded down 1.09% on Friday, reaching $43.50. 212,505 shares of the company’s stock traded hands. 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 capitalization of $1.76 billion, a PE ratio of 23.82 and a beta of 0.33. The firm’s 50-day moving average is $46.00 and its 200 day moving average is $45.83.
El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.25. The company earned $217.87 million during the quarter, compared to analyst estimates of $219.50 million. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. During the same quarter in the prior year, the business earned $0.52 earnings per share. Analysts forecast that El Paso Electric Co. will post $2.38 EPS for the current 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 $0.31 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.24 annualized dividend and a yield of 2.85%. El Paso Electric’s dividend payout ratio is 67.76%.
Several research firms recently weighed in on EE. Jefferies Group reiterated a “buy” rating and set a $52.50 price objective on shares of El Paso Electric in a research note on Friday, September 23rd. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Finally, Argus restated a “hold” rating on shares of El Paso Electric in a research report on Wednesday.
El Paso Electric Company Profile
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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