SG Americas Securities LLC Grows Holdings in El Paso Electric (EE)

SG Americas Securities LLC boosted its holdings in El Paso Electric (NYSE:EE) by 108.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,495 shares of the utilities provider’s stock after purchasing an additional 13,754 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of El Paso Electric worth $1,464,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in El Paso Electric in the third quarter worth $179,000. Rhumbline Advisers boosted its holdings in El Paso Electric by 1.9% in the third quarter. Rhumbline Advisers now owns 91,348 shares of the utilities provider’s stock worth $5,047,000 after purchasing an additional 1,711 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in El Paso Electric by 84.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,625 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 5,770 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in El Paso Electric by 59.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,220 shares of the utilities provider’s stock worth $841,000 after purchasing an additional 5,650 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in El Paso Electric by 49.0% in the third quarter. BNP Paribas Arbitrage SA now owns 23,422 shares of the utilities provider’s stock worth $1,294,000 after purchasing an additional 7,699 shares during the period. 98.83% of the stock is owned by hedge funds and other institutional investors.

Shares of El Paso Electric (NYSE:EE) opened at $59.70 on Tuesday. El Paso Electric has a one year low of $44.55 and a one year high of $60.70. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2,421.30, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 4.59 and a beta of 0.47.

El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.23). El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The company had revenue of $297.47 million for the quarter, compared to the consensus estimate of $310.00 million. During the same quarter in the prior year, the firm earned $1.84 earnings per share. El Paso Electric’s revenue for the quarter was down 8.0% compared to the same quarter last year. equities research analysts anticipate that El Paso Electric will post 2.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s dividend payout ratio is currently 55.83%.

A number of equities analysts have commented on the stock. Bank of America downgraded shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Wednesday, November 22nd. Jefferies Group cut El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. Mizuho reiterated a “hold” rating and issued a $55.00 target price on shares of El Paso Electric in a research note on Friday, October 27th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.60.

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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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