Russell Investments Group Ltd. reduced its holdings in El Paso Electric (NYSE:EE) by 23.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,180 shares of the utilities provider’s stock after selling 33,881 shares during the period. Russell Investments Group Ltd. owned 0.27% of El Paso Electric worth $7,206,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gamco Investors INC. ET AL increased its stake in shares of El Paso Electric by 0.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,404,900 shares of the utilities provider’s stock worth $91,880,000 after purchasing an additional 9,450 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of El Paso Electric by 47.5% during the 1st quarter. Electron Capital Partners LLC now owns 962,905 shares of the utilities provider’s stock worth $56,638,000 after purchasing an additional 310,159 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of El Paso Electric by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 642,258 shares of the utilities provider’s stock worth $37,777,000 after purchasing an additional 4,722 shares during the last quarter. First Trust Advisors LP increased its stake in shares of El Paso Electric by 0.9% during the 2nd quarter. First Trust Advisors LP now owns 530,447 shares of the utilities provider’s stock worth $34,691,000 after purchasing an additional 4,625 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of El Paso Electric by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 425,158 shares of the utilities provider’s stock worth $21,312,000 after purchasing an additional 25,821 shares during the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.

Shares of EE stock traded down $0.08 during midday trading on Thursday, hitting $67.00. 3,344 shares of the company were exchanged, compared to its average volume of 312,367. The firm has a market capitalization of $2.73 billion, a P/E ratio of 28.75, a PEG ratio of 4.64 and a beta of 0.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.64. The firm’s 50 day moving average price is $66.51 and its two-hundred day moving average price is $62.48. El Paso Electric has a 52 week low of $47.99 and a 52 week high of $67.20.

El Paso Electric (NYSE:EE) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.14). The company had revenue of $203.08 million for the quarter. El Paso Electric had a return on equity of 7.79% and a net margin of 10.39%. Analysts expect that El Paso Electric will post 2.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, September 13th. El Paso Electric’s payout ratio is 66.09%.

Several research analysts have recently weighed in on EE shares. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zacks Investment Research lowered shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.00.

In other El Paso Electric news, Director Stephen Wertheimer sold 25,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $66.40, for a total value of $1,660,000.00. Following the completion of the sale, the director now owns 27,376 shares of the company’s stock, valued at approximately $1,817,766.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward Escudero sold 15,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $66.37, for a total transaction of $995,550.00. Following the completion of the sale, the director now directly owns 17,252 shares of the company’s stock, valued at approximately $1,145,015.24. The disclosure for this sale can be found here. Insiders sold a total of 64,094 shares of company stock valued at $4,254,910 in the last three months. Insiders own 1.21% of the company’s stock.

El Paso Electric Company Profile

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

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

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