Oregon Public Employees Retirement Fund Grows Stake in El Paso Electric (NYSE:EE)

Oregon Public Employees Retirement Fund lifted its stake in shares of El Paso Electric (NYSE:EE) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,061 shares of the utilities provider’s stock after purchasing an additional 300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in El Paso Electric were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in EE. Norges Bank acquired a new stake in El Paso Electric during the 4th quarter worth approximately $27,215,000. Electron Capital Partners LLC lifted its holdings in El Paso Electric by 47.5% in the 1st quarter. Electron Capital Partners LLC now owns 962,905 shares of the utilities provider’s stock valued at $56,638,000 after acquiring an additional 310,159 shares during the last quarter. AJO LP purchased a new stake in El Paso Electric during the first quarter valued at about $10,195,000. Alpine Global Management LLC purchased a new stake in El Paso Electric during the second quarter valued at about $4,340,000. Finally, Ellis Investment Partners LLC purchased a new stake in El Paso Electric during the first quarter valued at about $60,000. 94.68% of the stock is owned by institutional investors and hedge funds.

Shares of EE stock traded down $0.13 during trading on Wednesday, reaching $66.29. 12,198 shares of the company’s stock were exchanged, compared to its average volume of 182,519. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.52 and a quick ratio of 0.37. The stock has a market capitalization of $2.70 billion, a PE ratio of 28.45, a PEG ratio of 4.62 and a beta of 0.57. El Paso Electric has a twelve month low of $47.99 and a twelve month high of $66.83. The business has a fifty day moving average price of $66.00.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.14). The firm had revenue of $203.08 million during the quarter. El Paso Electric had a net margin of 10.79% and a return on equity of 8.61%. Sell-side analysts anticipate that El Paso Electric will post 2.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.385 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 2.32%. El Paso Electric’s dividend payout ratio is currently 66.09%.

A number of equities analysts recently commented on EE shares. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday. Finally, TheStreet upgraded El Paso Electric from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for El Paso Electric (NYSE:EE)

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