Federated Investors Inc. PA Cuts Position in El Paso Electric (NYSE:EE)

Federated Investors Inc. PA decreased its position in El Paso Electric (NYSE:EE) by 30.0% in the 1st quarter, HoldingsChannel reports. The fund owned 176,507 shares of the utilities provider’s stock after selling 75,500 shares during the period. Federated Investors Inc. PA’s holdings in El Paso Electric were worth $10,382,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Sageworth Trust Co grew its holdings in El Paso Electric by 30.8% during the first quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 185 shares during the period. Ellis Investment Partners LLC bought a new position in El Paso Electric during the first quarter valued at $60,000. NumerixS Investment Technologies Inc bought a new position in El Paso Electric during the fourth quarter valued at $65,000. Quadrant Capital Group LLC grew its holdings in 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 valued at $69,000 after purchasing an additional 1,118 shares during the period. Finally, Strs Ohio grew its holdings in El Paso Electric by 260.0% during the fourth quarter. Strs Ohio now owns 1,800 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 1,300 shares during the period. 94.27% of the stock is owned by institutional investors.

Several brokerages have weighed in on EE. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, May 20th. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Mizuho increased their target price on El Paso Electric from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, March 29th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.00.



NYSE:EE opened at $64.76 on Wednesday. The firm has a market cap 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 has a 1 year low of $47.99 and a 1 year high of $66.83. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.11.

El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.29). The company had revenue of $174.36 million for the quarter. El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. On average, analysts predict 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 dividend of $0.385 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.54 annualized dividend and a dividend yield of 2.38%. This is an increase from El Paso Electric’s previous quarterly dividend of $0.36. El Paso Electric’s dividend payout ratio is currently 61.80%.

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El Paso Electric 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.

Further Reading: Support Level

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

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