Meadow Creek Investment Management LLC grew its holdings in El Paso Electric (NYSE:EE) by 25.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,768 shares of the utilities provider’s stock after acquiring an additional 976 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in El Paso Electric were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EE. Millennium Management LLC increased its holdings in shares of El Paso Electric by 45.8% in the 1st quarter. Millennium Management LLC now owns 1,016,531 shares of the utilities provider’s stock valued at $51,843,000 after acquiring an additional 319,407 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of El Paso Electric in the 1st quarter valued at about $16,054,000. BlackRock Inc. increased its holdings in shares of El Paso Electric by 5.6% in the 2nd quarter. BlackRock Inc. now owns 5,809,331 shares of the utilities provider’s stock valued at $343,332,000 after acquiring an additional 310,277 shares during the last quarter. FMR LLC increased its holdings in shares of El Paso Electric by 11.8% in the 2nd quarter. FMR LLC now owns 2,005,343 shares of the utilities provider’s stock valued at $118,516,000 after acquiring an additional 211,071 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of El Paso Electric by 354.7% in the 1st quarter. Guggenheim Capital LLC now owns 192,352 shares of the utilities provider’s stock valued at $9,810,000 after acquiring an additional 150,046 shares during the last quarter. Institutional investors and hedge funds own 97.60% of the company’s stock.

Shares of NYSE EE opened at $62.00 on Tuesday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 25.62, a PEG ratio of 5.47 and a beta of 0.31. The company has a quick ratio of 0.61, a current ratio of 0.84 and a debt-to-equity ratio of 1.22. El Paso Electric has a 52-week low of $48.05 and a 52-week high of $64.35.

El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.12). El Paso Electric had a return on equity of 8.12% and a net margin of 10.21%. The company had revenue of $236.80 million for the quarter. During the same period last year, the firm earned $0.89 earnings per share. research analysts forecast that El Paso Electric will post 2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.44 dividend on an annualized basis and a yield of 2.32%. El Paso Electric’s payout ratio is 59.50%.

A number of analysts recently issued reports on the company. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Mizuho reissued a “hold” rating and issued a $58.00 target price on shares of El Paso Electric in a research report on Friday, July 20th. Finally, Williams Capital cut El Paso Electric from a “hold” rating to a “sell” rating and decreased their target price for the company from $52.00 to $49.00 in a research report on Monday, June 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.20.

El Paso Electric Company Profile

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.

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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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