Today, Teacher Retirement System of Texas invests in El Paso Electric Co. (EE) Shares

Today, Teacher Retirement System of Texas invests in El Paso Electric Co. (EE) Shares

Teacher Retirement System of Texas raised its stake in shares of El Paso Electric Co. (NYSE:EE) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 5,663 shares of the company’s stock after buying an additional 684 shares during the period. Teacher Retirement System of Texas’ holdings in El Paso Electric were worth $268,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in EE. Emerald Acquisition Ltd. purchased a new position in shares of El Paso Electric during the second quarter valued at about $13,494,000. Goldman Sachs Group Inc. boosted its position in shares of El Paso Electric by 440.4% in the first quarter. Goldman Sachs Group Inc. now owns 219,200 shares of the company’s stock valued at $10,057,000 after buying an additional 178,638 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of El Paso Electric by 207.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 238,699 shares of the company’s stock valued at $11,283,000 after buying an additional 160,941 shares during the period. Renaissance Technologies LLC boosted its position in shares of El Paso Electric by 70.9% in the first quarter. Renaissance Technologies LLC now owns 256,000 shares of the company’s stock valued at $11,745,000 after buying an additional 106,200 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of El Paso Electric by 127.3% in the first quarter. BlackRock Group LTD now owns 125,753 shares of the company’s stock valued at $5,770,000 after buying an additional 70,431 shares during the period. Institutional investors own 96.16% of the company’s stock.

Shares of El Paso Electric Co. (NYSE:EE) opened at 42.95 on Monday. El Paso Electric Co. has a 1-year low of $35.32 and a 1-year high of $48.75. The company has a market capitalization of $1.74 billion, a PE ratio of 23.52 and a beta of 0.33. The firm has a 50-day moving average price of $45.61 and a 200-day moving average price of $45.77.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Monday, September 12th. El Paso Electric’s dividend payout ratio is currently 67.76%.

Several equities analysts recently issued reports on EE shares. Jefferies Group upgraded El Paso Electric from a “hold” rating to a “buy” rating and raised their price objective for the stock from $47.00 to $52.50 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Argus restated a “hold” rating on shares of El Paso Electric in a research note on Wednesday, October 5th. Finally, Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, October 11th.

El Paso Electric Company Profile

El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.

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