Trade Report: Today: IndexIQ Advisors LLC Reached $517,000 position of Empire District Electric Co. (EDE)

Today: IndexIQ Advisors LLC Reached $517,000 position  of Empire District Electric Co. (EDE)

IndexIQ Advisors LLC cut its stake in shares of Empire District Electric Co. (NYSE:EDE) by 14.9% during the third quarter, Holdings Channel reports. The firm owned 15,143 shares of the company’s stock after selling 2,646 shares during the period. IndexIQ Advisors LLC’s holdings in Empire District Electric were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cribstone Capital Management LLC purchased a new stake in Empire District Electric during the second quarter worth approximately $110,000. Teacher Retirement System of Texas increased its stake in Empire District Electric by 9.0% in the second quarter. Teacher Retirement System of Texas now owns 5,861 shares of the company’s stock worth $199,000 after buying an additional 486 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Empire District Electric during the second quarter worth approximately $201,000. Bank of Montreal Can purchased a new stake in Empire District Electric during the second quarter worth approximately $215,000. Finally, Commonwealth Equity Services Inc increased its stake in Empire District Electric by 15.8% in the second quarter. Commonwealth Equity Services Inc now owns 7,469 shares of the company’s stock worth $254,000 after buying an additional 1,018 shares during the last quarter. Institutional investors own 66.02% of the company’s stock.

Empire District Electric Co. (NYSE:EDE) traded down 0.03% during midday trading on Monday, reaching $34.44. 50,337 shares of the company traded hands. Empire District Electric Co. has a 12 month low of $22.18 and a 12 month high of $34.49. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.12 and a beta of 0.11. The firm’s 50 day moving average price is $34.27 and its 200 day moving average price is $33.93.

Empire District Electric (NYSE:EDE) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. Empire District Electric had a net margin of 10.78% and a return on equity of 8.13%. On average, analysts expect that Empire District Electric Co. will post $1.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.26 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.02%. Empire District Electric’s dividend payout ratio (DPR) is presently 75.36%.

A number of analysts have recently commented on the company. Scotiabank restated a “sector perform” rating and set a $23.00 price objective on shares of Empire District Electric in a report on Wednesday, September 14th. RBC Capital Markets restated a “sector perform” rating and set a $22.00 price objective on shares of Empire District Electric in a report on Friday, September 9th. BMO Capital Markets restated a “market perform” rating and set a $21.00 price objective on shares of Empire District Electric in a report on Monday, September 19th. Dundee Securities restated a “neutral” rating and set a $20.00 price objective on shares of Empire District Electric in a report on Friday, September 23rd. Finally, Barclays PLC restated an “underweight” rating and set a $18.00 price objective (down from $19.00) on shares of Empire District Electric in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.13.

About Empire District Electric

The Empire District Electric Company is a regulated utility company. The Company is engaged in the generation, purchase, transmission, distribution and sale of electricity. It provides services with in Missouri, Kansas, Oklahoma and Arkansas. The Company operates its businesses in three segments: electric, gas and other.

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