Quadrant Capital Group LLC Increases Stake in El Paso Electric (EE)

Quadrant Capital Group LLC grew its position in El Paso Electric (NYSE:EE) by 1,552.8% in the first quarter, Holdings Channel reports. The fund owned 1,190 shares of the utilities provider’s stock after acquiring an additional 1,118 shares during the quarter. Quadrant Capital Group LLC’s holdings in El Paso Electric were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EE. Norges Bank bought a new position in shares of El Paso Electric in the 4th quarter valued at $27,215,000. D. E. Shaw & Co. Inc. lifted its stake in shares of El Paso Electric by 752.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 268,110 shares of the utilities provider’s stock valued at $13,440,000 after acquiring an additional 236,658 shares during the last quarter. BlackRock Inc. lifted its stake in shares of El Paso Electric by 3.3% in the 4th quarter. BlackRock Inc. now owns 6,178,968 shares of the utilities provider’s stock valued at $309,753,000 after acquiring an additional 197,600 shares during the last quarter. Morgan Stanley lifted its stake in shares of El Paso Electric by 134.7% in the 3rd quarter. Morgan Stanley now owns 307,105 shares of the utilities provider’s stock valued at $17,566,000 after acquiring an additional 176,274 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of El Paso Electric by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,369,640 shares of the utilities provider’s stock valued at $249,943,000 after acquiring an additional 163,641 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

A number of analysts recently weighed in on the company. TheStreet upgraded El Paso Electric from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, March 19th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and increased their price objective for the company from $49.00 to $53.00 in a report on Monday, March 4th. Finally, Bank of America restated a “neutral” rating and issued a $55.00 price objective (up from $49.00) on shares of El Paso Electric in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating, El Paso Electric currently has a consensus rating of “Hold” and an average price target of $58.00.

Shares of El Paso Electric stock opened at $58.75 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.55 and a quick ratio of 0.38. El Paso Electric has a 1-year low of $47.99 and a 1-year high of $64.35. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 5.25 and a beta of 0.51.

El Paso Electric (NYSE:EE) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.29). El Paso Electric had a return on equity of 8.83% and a net margin of 9.33%. The business had revenue of $174.36 million for the quarter. On average, sell-side analysts forecast that El Paso Electric will post 2.51 earnings per share for the current year.

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El Paso Electric Company 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 2,085 megawatts.

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

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