Legal & General Group Plc grew its position in shares of El Paso Electric (NYSE:EE) by 4.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,201 shares of the utilities provider’s stock after purchasing an additional 8,576 shares during the period. Legal & General Group Plc owned approximately 0.53% of El Paso Electric worth $11,835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EE. Quantbot Technologies LP purchased a new stake in shares of El Paso Electric during the third quarter valued at approximately $179,000. 1st Global Advisors Inc. purchased a new stake in shares of El Paso Electric during the second quarter valued at approximately $202,000. Sciencast Management LP purchased a new stake in shares of El Paso Electric during the second quarter valued at approximately $202,000. Shelton Capital Management purchased a new stake in shares of El Paso Electric during the second quarter valued at approximately $208,000. Finally, Neuberger Berman Group LLC bought a new stake in shares of El Paso Electric in the second quarter worth $221,000. Institutional investors own 98.86% of the company’s stock.

Shares of El Paso Electric (NYSE:EE) opened at $58.80 on Tuesday. 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 cap of $2,390.86, a price-to-earnings ratio of 24.54, a P/E/G ratio of 4.53 and a beta of 0.47. El Paso Electric has a 12 month low of $44.70 and a 12 month high of $61.15.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 annualized dividend and a yield of 2.28%. El Paso Electric’s payout ratio is 55.83%.

A number of analysts recently issued reports on EE shares. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Jefferies Group restated a “hold” rating and issued a $57.00 price target (up previously from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, September 19th. Bank of America started coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Mizuho restated a “hold” rating and issued a $56.00 price target on shares of El Paso Electric in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.60.

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El Paso Electric Company Profile

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).

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

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