El Paso Electric Co. (EE) Shares Bought by First Trust Advisors LP
First Trust Advisors LP increased its position in El Paso Electric Co. (NYSE:EE) by 7.9% during the third quarter, Holdings Channel reports. The fund owned 287,992 shares of the company’s stock after buying an additional 20,989 shares during the period. First Trust Advisors LP’s holdings in El Paso Electric were worth $13,469,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in El Paso Electric by 7.0% in the first quarter. Geode Capital Management LLC now owns 281,305 shares of the company’s stock valued at $12,905,000 after buying an additional 18,481 shares in the last quarter. Renaissance Technologies LLC boosted its stake in El Paso Electric by 70.9% in the first quarter. Renaissance Technologies LLC now owns 256,000 shares of the company’s stock valued at $11,745,000 after buying an additional 106,200 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in El Paso Electric by 3.4% in the first quarter. Panagora Asset Management Inc. now owns 242,737 shares of the company’s stock valued at $11,137,000 after buying an additional 8,075 shares in the last quarter. BNP Paribas Arbitrage SA boosted 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 in the last quarter. Finally, Capstone Asset Management Co. boosted 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 in the last quarter. 96.52% of the stock is owned by hedge funds and other institutional investors.
Shares of El Paso Electric Co. (NYSE:EE) traded down 2.721% on Wednesday, reaching $45.575. The company had a trading volume of 33,411 shares. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 20.086 and a beta of 0.41. El Paso Electric Co. has a 52-week low of $35.32 and a 52-week high of $48.75. The company’s 50-day moving average price is $44.74 and its 200-day moving average price is $45.73.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, November 2nd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.90 by $0.06. El Paso Electric had a net margin of 10.48% and a return on equity of 8.95%. The firm earned $323.23 million during the quarter, compared to analyst estimates of $289.71 million. During the same period in the prior year, the business posted $1.40 EPS. On average, analysts predict that El Paso Electric Co. will post $2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, December 12th. El Paso Electric’s dividend payout ratio (DPR) is 54.63%.
EE has been the subject of several research reports. Jefferies Group reissued a “buy” rating and issued a $52.50 price objective on shares of El Paso Electric in a research report on Friday, September 23rd. Zacks Investment Research raised El Paso Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 11th. Finally, Argus reissued a “hold” rating on shares of El Paso Electric in a research report on Wednesday, October 5th.
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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