Wedge Capital Management L L P NC Decreases Stock Position in El Paso Electric (NYSE:EE)

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Wedge Capital Management L L P NC cut its holdings in El Paso Electric (NYSE:EE) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 386,878 shares of the utilities provider’s stock after selling 210 shares during the period. Wedge Capital Management L L P NC’s holdings in El Paso Electric were worth $26,265,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EE. Metropolitan Life Insurance Co NY lifted its stake in El Paso Electric by 1.8% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,142 shares of the utilities provider’s stock valued at $882,000 after acquiring an additional 230 shares during the period. Texas Permanent School Fund raised its holdings in shares of El Paso Electric by 0.7% during the third quarter. Texas Permanent School Fund now owns 27,764 shares of the utilities provider’s stock valued at $1,862,000 after purchasing an additional 199 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of El Paso Electric by 157.7% during the third quarter. Squarepoint Ops LLC now owns 18,364 shares of the utilities provider’s stock valued at $1,232,000 after purchasing an additional 11,238 shares during the last quarter. State Street Corp lifted its position in El Paso Electric by 0.3% during the third quarter. State Street Corp now owns 1,224,408 shares of the utilities provider’s stock valued at $82,133,000 after purchasing an additional 4,132 shares during the period. Finally, California Public Employees Retirement System lifted its position in El Paso Electric by 41.7% during the third quarter. California Public Employees Retirement System now owns 78,511 shares of the utilities provider’s stock valued at $5,267,000 after purchasing an additional 23,093 shares during the period. 91.39% of the stock is currently owned by institutional investors and hedge funds.

EE stock opened at $68.06 on Thursday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 29.21 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.69. The business’s 50-day moving average is $67.75 and its two-hundred day moving average is $66.97. El Paso Electric has a fifty-two week low of $48.12 and a fifty-two week high of $74.44.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $1.83 earnings per share (EPS) for the quarter. El Paso Electric had a return on equity of 7.85% and a net margin of 10.99%. The business had revenue of $294.45 million during the quarter.

Separately, ValuEngine downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $60.00.

About El Paso Electric

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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Want to see what other hedge funds are holding EE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for El Paso Electric (NYSE:EE).

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

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