El Paso Electric (NYSE:EE) Short Interest Update

El Paso Electric (NYSE:EE) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 868,900 shares, a drop of 7.0% from the August 30th total of 934,600 shares. Based on an average daily trading volume, of 220,800 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.2% of the company’s stock are sold short.

In other El Paso Electric news, Director Edward Escudero sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $66.37, for a total transaction of $995,550.00. Following the completion of the sale, the director now owns 17,252 shares in the company, valued at approximately $1,145,015.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen Wertheimer sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $66.40, for a total value of $1,660,000.00. Following the sale, the director now owns 27,376 shares of the company’s stock, valued at approximately $1,817,766.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,094 shares of company stock valued at $4,254,910. Insiders own 1.21% of the company’s stock.

Several hedge funds have recently modified their holdings of EE. 6 Meridian grew its holdings in shares of El Paso Electric by 1.4% in the 2nd quarter. 6 Meridian now owns 13,772 shares of the utilities provider’s stock worth $901,000 after acquiring an additional 190 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of El Paso Electric by 2.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,190 shares of the utilities provider’s stock worth $797,000 after acquiring an additional 260 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of El Paso Electric by 1.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,061 shares of the utilities provider’s stock worth $1,050,000 after buying an additional 300 shares during the period. Verity & Verity LLC boosted its position in shares of El Paso Electric by 13.9% in the second quarter. Verity & Verity LLC now owns 5,465 shares of the utilities provider’s stock worth $357,000 after buying an additional 665 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of El Paso Electric by 7.8% in the second quarter. Envestnet Asset Management Inc. now owns 11,781 shares of the utilities provider’s stock worth $770,000 after buying an additional 849 shares during the period. Institutional investors own 92.01% of the company’s stock.

El Paso Electric stock traded up $0.09 during mid-day trading on Thursday, hitting $67.37. 847 shares of the company’s stock traded hands, compared to its average volume of 267,200. The firm has a 50 day moving average price of $66.96 and a 200 day moving average price of $64.11. The company has a quick ratio of 0.46, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The company has a market cap of $2.73 billion, a PE ratio of 28.93 and a beta of 0.53. El Paso Electric has a one year low of $47.99 and a one year high of $67.86.

El Paso Electric (NYSE:EE) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.14). El Paso Electric had a net margin of 10.39% and a return on equity of 7.79%. The business had revenue of $203.08 million for the quarter.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, September 13th. El Paso Electric’s dividend payout ratio (DPR) is presently 66.09%.

EE has been the topic of a number of research analyst reports. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, El Paso Electric presently has a consensus rating of “Hold” and an average target price of $60.00.

El Paso Electric Company Profile

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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