Trade Report: The Dimensional Fund Advisors LP Boosts Stake in El Paso Electric Co. (EE)

The Dimensional Fund Advisors LP Boosts Stake in El Paso Electric Co. (EE)

Dimensional Fund Advisors LP boosted its stake in El Paso Electric Co. (NYSE:EE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 983,009 shares of the company’s stock after buying an additional 12,693 shares during the period. Dimensional Fund Advisors LP owned 2.43% of El Paso Electric worth $46,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of El Paso Electric by 19.7% in the first quarter. Aperio Group LLC now owns 26,907 shares of the company’s stock valued at $1,234,000 after buying an additional 4,433 shares during the period. Virginia Retirement System purchased a new position in shares of El Paso Electric during the first quarter valued at approximately $863,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of El Paso Electric during the first quarter valued at approximately $555,000. Prudential Financial Inc. boosted its position in shares of El Paso Electric by 5.5% in the first quarter. Prudential Financial Inc. now owns 220,606 shares of the company’s stock valued at $10,122,000 after buying an additional 11,496 shares during the period. Finally, BlackRock Inc. boosted its position in shares of El Paso Electric by 454.5% in the first quarter. BlackRock Inc. now owns 35,215 shares of the company’s stock valued at $1,616,000 after buying an additional 28,864 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

El Paso Electric Co. (NYSE:EE) opened at 42.759 on Wednesday. The firm’s 50 day moving average price is $45.85 and its 200-day moving average price is $45.82. El Paso Electric Co. has a one year low of $35.32 and a one year high of $48.75. The company has a market capitalization of $1.73 billion, a PE ratio of 23.417 and a beta of 0.33.

El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.25. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. The business had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. Equities analysts forecast that El Paso Electric Co. will post $2.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were given a dividend of $0.31 per share. The ex-dividend date was Monday, September 12th. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. El Paso Electric’s dividend payout ratio is currently 67.76%.

Several research analysts recently commented on EE shares. Zacks Investment Research cut El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Jefferies Group raised El Paso Electric from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $52.50 in a report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Argus reissued a “hold” rating on shares of El Paso Electric in a report on Wednesday, October 5th.

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