Renaissance Technologies LLC increased its holdings in shares of El Paso Electric Company (NYSE:EE) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,337 shares of the utilities provider’s stock after acquiring an additional 135,837 shares during the period. Renaissance Technologies LLC owned approximately 1.75% of El Paso Electric worth $36,673,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Arizona State Retirement System grew its position in El Paso Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock valued at $1,096,000 after purchasing an additional 100 shares during the last quarter. Stifel Financial Corp raised its holdings in El Paso Electric by 7.6% in the first quarter. Stifel Financial Corp now owns 7,018 shares of the utilities provider’s stock worth $357,000 after buying an additional 494 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in El Paso Electric by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 10,152 shares of the utilities provider’s stock worth $512,000 after buying an additional 1,082 shares during the last quarter. Principal Financial Group Inc. raised its holdings in El Paso Electric by 9.4% in the second quarter. Principal Financial Group Inc. now owns 346,809 shares of the utilities provider’s stock worth $17,930,000 after buying an additional 29,758 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in El Paso Electric by 4.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock worth $495,000 after buying an additional 370 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

El Paso Electric Company (NYSE EE) opened at 56.15 on Wednesday. The stock has a market capitalization of $2.28 billion, a PE ratio of 20.29 and a beta of 0.47. The stock’s 50 day moving average is $55.08 and its 200 day moving average is $52.74. El Paso Electric Company has a 12-month low of $42.49 and a 12-month high of $56.58.

El Paso Electric (NYSE:EE) last issued its quarterly earnings results 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. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. The business had revenue of $251.84 million for the quarter. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts anticipate that El Paso Electric Company will post $2.59 EPS for the current fiscal year.

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A number of equities research analysts have recently commented on EE shares. BidaskClub cut shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research raised El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Tuesday, September 19th. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a report on Friday, August 11th. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Finally, Mizuho initiated coverage on El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.00.

El Paso Electric 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).

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

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