El Paso Electric Company (EE) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its holdings in El Paso Electric Company (NYSE:EE) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,529 shares of the utilities provider’s stock after acquiring an additional 55 shares during the period. Amalgamated Bank’s holdings in El Paso Electric were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EE. Ameritas Investment Partners Inc. bought a new stake in shares of El Paso Electric during the 1st quarter valued at $176,000. Neuberger Berman Group LLC bought a new stake in shares of El Paso Electric during the 2nd quarter valued at $221,000. Affinity Investment Advisors LLC bought a new stake in shares of El Paso Electric during the 2nd quarter valued at $240,000. Trexquant Investment LP bought a new stake in shares of El Paso Electric during the 2nd quarter valued at $279,000. Finally, Riverhead Capital Management LLC raised its position in shares of El Paso Electric by 77.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,664 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 2,464 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

El Paso Electric Company (NYSE EE) opened at 57.85 on Thursday. El Paso Electric Company has a 1-year low of $42.71 and a 1-year high of $58.38. The stock has a market capitalization of $2.35 billion, a PE ratio of 20.90 and a beta of 0.47. The company’s 50-day moving average is $55.61 and its 200 day moving average is $53.07.

El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities analysts predict that El Paso Electric Company will post $2.58 earnings per share for the current year.

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EE has been the topic of several recent analyst reports. ValuEngine downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Mizuho restated a “hold” rating and set a $56.00 price objective on shares of El Paso Electric in a research report on Wednesday, October 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a research report on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.50.

About El Paso Electric

El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).

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

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