FMR LLC cut its holdings in shares of El Paso Electric (NYSE:EE) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,075,264 shares of the utilities provider’s stock after selling 282,146 shares during the quarter. FMR LLC owned about 2.64% of El Paso Electric worth $53,903,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in El Paso Electric by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 28,650 shares of the utilities provider’s stock worth $1,436,000 after acquiring an additional 192 shares in the last quarter. State of Alaska Department of Revenue raised its stake in El Paso Electric by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 13,639 shares of the utilities provider’s stock worth $683,000 after acquiring an additional 245 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in El Paso Electric by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 9,680 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 311 shares in the last quarter. Teachers Advisors LLC raised its stake in El Paso Electric by 0.5% during the third quarter. Teachers Advisors LLC now owns 86,380 shares of the utilities provider’s stock worth $4,941,000 after acquiring an additional 446 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in El Paso Electric by 36.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,994 shares of the utilities provider’s stock worth $150,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.
NYSE:EE traded up $0.51 during mid-day trading on Thursday, hitting $58.75. The company had a trading volume of 154,461 shares, compared to its average volume of 240,552. El Paso Electric has a fifty-two week low of $47.99 and a fifty-two week high of $64.35. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 5.25 and a beta of 0.51.
Several brokerages have recently commented on EE. Bank of America restated a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of El Paso Electric in a report on Friday, March 1st. Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and increased their target price for the stock from $49.00 to $53.00 in a report on Monday, March 4th. TheStreet cut El Paso Electric from a “b” rating to a “c+” rating in a report on Wednesday, February 27th. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a report on Monday, January 14th. Finally, Mizuho raised their price target on El Paso Electric from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, March 29th. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $58.00.
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About El Paso Electric
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 2,085 megawatts.
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