Advisors Asset Management Inc. lowered its stake in Empire District Electric Co. (NYSE:EDE) by 12.1% during the second quarter, Holdings Channel reports. The firm owned 32,298 shares of the company’s stock after selling 4,437 shares during the period. Advisors Asset Management Inc. owned approximately 0.07% of Empire District Electric worth $1,097,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Empire District Electric by 29.4% in the first quarter. BlackRock Inc. now owns 3,260 shares of the company’s stock valued at $107,000 after buying an additional 741 shares during the period. Cribstone Capital Management LLC bought a new stake in shares of Empire District Electric during the second quarter valued at about $110,000. Bank of Montreal Can bought a new stake in shares of Empire District Electric during the second quarter valued at about $215,000. Commonwealth Equity Services Inc increased its stake in shares of Empire District Electric by 15.8% in the second quarter. Commonwealth Equity Services Inc now owns 7,469 shares of the company’s stock valued at $254,000 after buying an additional 1,018 shares during the period. Finally, Creative Planning increased its stake in shares of Empire District Electric by 2.1% in the second quarter. Creative Planning now owns 8,151 shares of the company’s stock valued at $277,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

Shares of Empire District Electric Co. (NYSE:EDE) traded down 0.15% during mid-day trading on Tuesday, reaching $34.08. The company had a trading volume of 80,519 shares. The firm has a 50 day moving average of $33.86 and a 200-day moving average of $33.64. Empire District Electric Co. has a one year low of $21.40 and a one year high of $34.14. The stock has a market capitalization of $1.50 billion, a P/E ratio of 25.64 and a beta of 0.20.

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

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

Several equities research analysts recently issued reports on EDE shares. Zacks Investment Research upgraded Empire District Electric from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. TD Securities reissued a “hold” rating and issued a $20.00 price objective on shares of Empire District Electric in a research report on Thursday, September 15th. Raymond James Financial Inc. reissued a “market perform” rating and issued a $24.00 price objective (down previously from $26.00) on shares of Empire District Electric in a research report on Thursday, June 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $21.00 price objective on shares of Empire District Electric in a research report on Monday. Finally, Scotiabank reissued a “sector perform” rating and issued a $23.00 price objective on shares of Empire District Electric in a research report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $24.50.

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.

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