RBC Capital Markets reaffirmed their sector perform rating on shares of Empire District Electric Co. (NYSE:EDE) in a report released on Friday morning. They currently have a $22.00 price target on the stock.

Analyst Recommendations for Empire District Electric (NYSE:EDE)

Several other equities research analysts have also issued reports on EDE. Zacks Investment Research raised shares of Empire District Electric from a sell rating to a hold rating in a report on Thursday, May 26th. Raymond James Financial Inc. reaffirmed a market perform rating and issued a $24.00 target price (down previously from $26.00) on shares of Empire District Electric in a report on Thursday, June 23rd. TD Securities reaffirmed a hold rating and issued a $22.00 target price on shares of Empire District Electric in a report on Sunday, June 26th. Barclays PLC lowered shares of Empire District Electric from an equal weight rating to an underweight rating and lowered their target price for the stock from $24.00 to $19.00 in a report on Friday, July 1st. Finally, Scotiabank reaffirmed a sector perform rating and issued a $23.00 target price on shares of Empire District Electric in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.50.

Empire District Electric (NYSE:EDE) opened at 34.07 on Friday. The stock has a 50 day moving average of $33.90 and a 200 day moving average of $33.65. Empire District Electric has a 52 week low of $21.40 and a 52 week high of $34.14. The firm has a market cap of $1.50 billion, a PE ratio of 25.64 and a beta of 0.20.

Empire District Electric (NYSE:EDE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Empire District Electric had a net margin of 11.47% and a return on equity of 7.90%. Analysts anticipate that Empire District Electric will post $1.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.05%. Empire District Electric’s dividend payout ratio is 77.61%.

Several hedge funds have recently made changes to their positions in the stock. TPH Asset Management LLC purchased a new stake in shares of Empire District Electric during the first quarter worth $1,855,000. Renaissance Technologies LLC increased its stake in shares of Empire District Electric by 44.3% in the first quarter. Renaissance Technologies LLC now owns 1,287,117 shares of the company’s stock worth $42,539,000 after buying an additional 395,317 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Empire District Electric by 56.1% in the first quarter. Kennedy Capital Management Inc. now owns 516,168 shares of the company’s stock worth $17,059,000 after buying an additional 185,568 shares in the last quarter. Simmons Bank purchased a new stake in shares of Empire District Electric during the first quarter worth $345,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Empire District Electric by 28.3% in the first quarter. Goldman Sachs Group Inc. now owns 87,627 shares of the company’s stock worth $2,896,000 after buying an additional 19,333 shares in the last quarter. Institutional investors and hedge funds own 64.00% of the company’s stock.

Empire District Electric Company Profile

The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.

5 Day Chart for NYSE:EDE

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