Point72 Asset Management L.P. Purchases New Stake in El Paso Electric (EE)

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Point72 Asset Management L.P. bought a new stake in El Paso Electric (NYSE:EE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,800 shares of the utilities provider’s stock, valued at approximately $2,825,000. Point72 Asset Management L.P. owned approximately 0.12% of El Paso Electric as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EE. BlackRock Inc. grew its holdings in shares of El Paso Electric by 5.6% during the 2nd quarter. BlackRock Inc. now owns 5,809,331 shares of the utilities provider’s stock worth $343,332,000 after purchasing an additional 310,277 shares during the period. FMR LLC grew its holdings in shares of El Paso Electric by 11.8% during the 2nd quarter. FMR LLC now owns 2,005,343 shares of the utilities provider’s stock worth $118,516,000 after purchasing an additional 211,071 shares during the period. Millennium Management LLC grew its holdings in shares of El Paso Electric by 45.8% during the 1st quarter. Millennium Management LLC now owns 1,016,531 shares of the utilities provider’s stock worth $51,843,000 after purchasing an additional 319,407 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of El Paso Electric by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 996,952 shares of the utilities provider’s stock worth $50,845,000 after purchasing an additional 7,435 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of El Paso Electric by 11.8% during the 1st quarter. Nuveen Asset Management LLC now owns 477,659 shares of the utilities provider’s stock worth $24,361,000 after purchasing an additional 50,559 shares during the period. Institutional investors own 97.60% of the company’s stock.

A number of equities analysts have recently weighed in on EE shares. Zacks Investment Research cut El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, August 6th. ValuEngine cut El Paso Electric from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Mizuho restated a “hold” rating and set a $58.00 target price on shares of El Paso Electric in a report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. El Paso Electric presently has an average rating of “Hold” and a consensus target price of $56.00.

El Paso Electric stock traded down $0.42 during midday trading on Friday, reaching $57.56. 176,661 shares of the stock traded hands, compared to its average volume of 266,821. El Paso Electric has a 12-month low of $48.05 and a 12-month high of $64.35. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 5.04 and a beta of 0.34. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.84 and a quick ratio of 0.61.

El Paso Electric (NYSE:EE) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.12). El Paso Electric had a net margin of 10.21% and a return on equity of 8.12%. The firm had revenue of $236.80 million for the quarter. During the same period last year, the business earned $0.89 EPS. Equities research analysts anticipate that El Paso Electric will post 2.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 13th. El Paso Electric’s dividend payout ratio (DPR) is 59.50%.

El Paso Electric Profile

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.

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

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