Wells Fargo & Company MN lowered its stake in shares of El Paso Electric (NYSE:EE) by 7.4% in the third quarter, Holdings Channel reports. The institutional investor owned 232,599 shares of the utilities provider’s stock after selling 18,651 shares during the period. Wells Fargo & Company MN’s holdings in El Paso Electric were worth $13,304,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new position in shares of El Paso Electric during the second quarter valued at about $210,000. Meadow Creek Investment Management LLC raised its position in shares of El Paso Electric by 25.7% during the second quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock valued at $282,000 after buying an additional 976 shares during the last quarter. Van ECK Associates Corp raised its position in shares of El Paso Electric by 44.7% during the second quarter. Van ECK Associates Corp now owns 6,450 shares of the utilities provider’s stock valued at $381,000 after buying an additional 1,993 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of El Paso Electric by 11.2% during the second quarter. Tyers Asset Management LLC now owns 8,344 shares of the utilities provider’s stock valued at $493,000 after buying an additional 840 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of El Paso Electric during the second quarter valued at about $508,000. 97.61% of the stock is owned by institutional investors and hedge funds.

EE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note 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, November 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.00.

NYSE EE opened at $53.99 on Friday. The stock has a market capitalization of $2.17 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 4.70 and a beta of 0.28. El Paso Electric has a twelve month low of $48.05 and a twelve month high of $64.35. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.16.

El Paso Electric (NYSE:EE) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.79 earnings per share for the quarter, beating the Zacks’ consensus estimate 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, research analysts anticipate that El Paso Electric will post 2.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.44 dividend on an annualized basis and a yield of 2.67%. El Paso Electric’s payout ratio is currently 59.50%.

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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.

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

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