Empire District Electric Co. (EDE) Sees Unusually-High Trading Volume
Shares of Empire District Electric Co. (NYSE:EDE) saw unusually-high trading volume on Tuesday . Approximately 177,050 shares changed hands during mid-day trading, a decline of 1% from the previous session’s volume of 179,746 shares.The stock last traded at $33.85 and had previously closed at $33.78.
A number of research firms have recently weighed in on EDE. Zacks Investment Research downgraded shares of Empire District Electric from a “hold” rating to a “sell” rating in a report on Wednesday, April 20th. TD Securities restated a “hold” rating and issued a $22.00 target price on shares of Empire District Electric in a report on Sunday, June 26th. Raymond James Financial Inc. restated a “market perform” rating and issued a $24.00 target price (down from $26.00) on shares of Empire District Electric in a report on Thursday, June 23rd. Barclays PLC downgraded shares of Empire District Electric from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $24.00 to $19.00 in a report on Friday, July 1st. Finally, Ladenburg Thalmann downgraded shares of Empire District Electric from a “buy” rating to a “neutral” rating in a report on Friday, April 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.80.
The company has a market capitalization of $1.49 billion and a P/E ratio of 25.49. The stock’s 50 day moving average is $33.77 and its 200-day moving average is $33.29.
Empire District Electric (NYSE:EDE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Equities analysts anticipate that Empire District Electric Co. will post $1.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, August 30th.
A number of institutional investors recently bought and sold shares of EDE. I.G. Investment Management LTD. increased its position in Empire District Electric by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 58,478 shares of the company’s stock valued at $1,641,000 after buying an additional 152 shares during the last quarter. Russell Frank Co increased its position in Empire District Electric by 1.4% in the fourth quarter. Russell Frank Co now owns 111,614 shares of the company’s stock valued at $3,189,000 after buying an additional 1,592 shares during the last quarter. New York State Common Retirement Fund increased its position in Empire District Electric by 4.4% in the fourth quarter. New York State Common Retirement Fund now owns 51,381 shares of the company’s stock valued at $1,442,000 after buying an additional 2,155 shares during the last quarter. California Public Employees Retirement System increased its position in Empire District Electric by 1.8% in the fourth quarter. California Public Employees Retirement System now owns 137,800 shares of the company’s stock valued at $3,868,000 after buying an additional 2,500 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Empire District Electric during the fourth quarter valued at about $2,688,000.
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.
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