BlackRock Inc. Reduces Position in El Paso Electric (NYSE:EE)

BlackRock Inc. decreased its holdings in shares of El Paso Electric (NYSE:EE) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,121,812 shares of the utilities provider’s stock after selling 57,156 shares during the period. BlackRock Inc. owned approximately 0.15% of El Paso Electric worth $360,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EE. Acadian Asset Management LLC boosted its holdings in El Paso Electric by 5,664.1% during the first quarter. Acadian Asset Management LLC now owns 30,492 shares of the utilities provider’s stock worth $1,793,000 after buying an additional 29,963 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in El Paso Electric by 0.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 219,624 shares of the utilities provider’s stock worth $12,918,000 after purchasing an additional 1,054 shares during the period. First Trust Advisors LP boosted its stake in El Paso Electric by 6.5% in the 1st quarter. First Trust Advisors LP now owns 525,822 shares of the utilities provider’s stock worth $30,929,000 after purchasing an additional 32,187 shares during the period. Martingale Asset Management L P boosted its stake in El Paso Electric by 5.4% in the 1st quarter. Martingale Asset Management L P now owns 45,003 shares of the utilities provider’s stock worth $2,648,000 after purchasing an additional 2,299 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its stake in El Paso Electric by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,251 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 571 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.

EE stock opened at $64.76 on Wednesday. El Paso Electric has a 12-month low of $47.99 and a 12-month high of $66.83. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.52 and a quick ratio of 0.37. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 4.54 and a beta of 0.53.

El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.29). El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. The company had revenue of $174.36 million during the quarter. On average, research analysts expect that El Paso Electric will post 2.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.385 dividend. This is an increase from El Paso Electric’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.54 dividend on an annualized basis and a yield of 2.38%. El Paso Electric’s dividend payout ratio is presently 61.80%.

A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. TheStreet raised shares of El Paso Electric from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. ValuEngine lowered shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Mizuho raised their price objective on shares of El Paso Electric from $50.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, March 29th. Finally, Williams Capital raised shares of El Paso Electric from a “sell” rating to a “hold” rating and raised their price objective for the stock from $49.00 to $53.00 in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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El Paso Electric Company Profile

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

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

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