El Paso Electric Company (NYSE:EE) Position Cut by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of El Paso Electric Company (NYSE:EE) by 92.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,615 shares of the utilities provider’s stock after selling 32,195 shares during the period. SG Americas Securities LLC’s holdings in El Paso Electric were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EE. Neuburgh Advisers LLC boosted its stake in shares of El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock worth $104,000 after buying an additional 22 shares during the period. Tyers Asset Management LLC boosted its stake in shares of El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock worth $133,000 after buying an additional 28 shares during the period. Flinton Capital Management LLC boosted its stake in shares of El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock worth $161,000 after buying an additional 34 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of El Paso Electric during the first quarter worth about $176,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of El Paso Electric by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the utilities provider’s stock worth $226,000 after buying an additional 90 shares during the period. 96.93% of the stock is owned by institutional investors and hedge funds.

El Paso Electric Company (EE) traded up 0.65% during midday trading on Tuesday, hitting $53.85. 145,473 shares of the stock traded hands. The firm has a market cap of $2.18 billion, a PE ratio of 19.45 and a beta of 0.48. El Paso Electric Company has a 52-week low of $42.49 and a 52-week high of $55.45. The stock has a 50-day moving average of $51.99 and a 200 day moving average of $50.38.

El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.99%. The firm had revenue of $251.84 million during the quarter. During the same period in the prior year, the company posted $0.55 EPS. Equities analysts forecast that El Paso Electric Company will post $2.48 EPS for the current year.

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EE has been the subject of several research analyst reports. BidaskClub cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Finally, Jefferies Group LLC raised their target price on shares of El Paso Electric from $48.50 to $52.00 and gave the company a “hold” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.33.

In related news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $524,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.33% of the company’s stock.

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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