Public Employees Retirement Association of Colorado reduced its position in shares of El Paso Electric (NYSE:EE) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,652 shares of the utilities provider’s stock after selling 2,669 shares during the period. Public Employees Retirement Association of Colorado’s holdings in El Paso Electric were worth $566,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of El Paso Electric by 1,552.8% during the first quarter. Quadrant Capital Group LLC now owns 1,190 shares of the utilities provider’s stock worth $69,000 after buying an additional 1,118 shares during the last quarter. Strs Ohio grew its stake in shares of El Paso Electric by 66.7% during the second quarter. Strs Ohio now owns 3,000 shares of the utilities provider’s stock worth $196,000 after buying an additional 1,200 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of El Paso Electric during the first quarter worth $204,000. Yorktown Management & Research Co Inc bought a new stake in shares of El Paso Electric during the first quarter worth $206,000. Finally, Quantamental Technologies LLC bought a new stake in shares of El Paso Electric during the first quarter worth $218,000. Institutional investors and hedge funds own 95.33% of the company’s stock.
Shares of El Paso Electric stock opened at $66.40 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. El Paso Electric has a twelve month low of $47.99 and a twelve month high of $66.83. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 4.61 and a beta of 0.57. The company’s fifty day moving average is $66.26 and its 200 day moving average is $60.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.385 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 2.32%. El Paso Electric’s dividend payout ratio is 66.09%.
In related news, Director Eric B. Siegel sold 24,094 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.38, for a total value of $1,599,359.72. Following the sale, the director now owns 57,550 shares of the company’s stock, valued at $3,820,169. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Wertheimer sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $66.40, for a total transaction of $1,660,000.00. Following the completion of the sale, the director now directly owns 27,376 shares in the company, valued at approximately $1,817,766.40. The disclosure for this sale can be found here. Insiders own 1.21% of the company’s stock.
A number of analysts have weighed in on EE shares. ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, TheStreet raised shares of El Paso Electric from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.
About El Paso Electric
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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