Russell Investments Group Ltd. reduced its stake in El Paso Electric (NYSE:EE) by 6.7% in the 3rd quarter, Holdings Channel reports. The firm owned 143,239 shares of the utilities provider’s stock after selling 10,282 shares during the period. Russell Investments Group Ltd.’s holdings in El Paso Electric were worth $8,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in El Paso Electric by 5.6% in the 2nd quarter. BlackRock Inc. now owns 5,809,331 shares of the utilities provider’s stock worth $343,332,000 after buying an additional 310,277 shares during the period. FMR LLC increased its holdings in El Paso Electric by 11.8% in the 2nd quarter. FMR LLC now owns 2,005,343 shares of the utilities provider’s stock worth $118,516,000 after buying an additional 211,071 shares during the period. Millennium Management LLC increased its holdings in El Paso Electric by 61.8% in the 2nd quarter. Millennium Management LLC now owns 1,644,321 shares of the utilities provider’s stock worth $97,179,000 after buying an additional 627,790 shares during the period. Northern Trust Corp increased its holdings in El Paso Electric by 0.8% in the 2nd quarter. Northern Trust Corp now owns 1,305,183 shares of the utilities provider’s stock worth $77,136,000 after buying an additional 10,528 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its holdings in El Paso Electric by 6.8% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 469,611 shares of the utilities provider’s stock worth $26,862,000 after buying an additional 29,985 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on EE shares. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $56.00.

Shares of NYSE EE opened at $57.00 on Monday. The company has a market cap of $2.32 billion, a PE ratio of 23.55, a PEG ratio of 5.02 and a beta of 0.29. El Paso Electric has a 12 month low of $48.05 and a 12 month high of $64.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.72 and a current ratio of 0.98.

El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.12. The business had revenue of $300.27 million for the quarter. El Paso Electric had a net margin of 11.67% and a return on equity of 9.19%. As a group, analysts forecast that El Paso Electric will post 2.43 EPS for the current fiscal year.

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El Paso Electric 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.

Further Reading: Average Daily Trade Volume – What You Need to Know

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

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