Wells Fargo & Company MN grew its stake in El Paso Electric (NYSE:EE) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,866 shares of the utilities provider’s stock after purchasing an additional 25,127 shares during the quarter. Wells Fargo & Company MN owned approximately 0.26% of El Paso Electric worth $7,195,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in shares of El Paso Electric by 5.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,240 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 167 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in El Paso Electric by 0.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 36,431 shares of the utilities provider’s stock valued at $2,476,000 after buying an additional 190 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of El Paso Electric by 1.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,994 shares of the utilities provider’s stock worth $882,000 after buying an additional 207 shares in the last quarter. Raymond James & Associates boosted its stake in shares of El Paso Electric by 2.1% in the 4th quarter. Raymond James & Associates now owns 11,554 shares of the utilities provider’s stock worth $784,000 after buying an additional 243 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of El Paso Electric by 0.4% in the fourth quarter. Alliancebernstein L.P. now owns 65,433 shares of the utilities provider’s stock valued at $4,442,000 after acquiring an additional 250 shares in the last quarter. 91.27% of the stock is currently owned by institutional investors.
Shares of El Paso Electric stock opened at $66.73 on Wednesday. The business’s fifty day simple moving average is $67.44 and its 200 day simple moving average is $67.74. The company has a current ratio of 0.49, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15. El Paso Electric has a 12 month low of $61.74 and a 12 month high of $69.96. The firm has a market capitalization of $2.72 billion, a P/E ratio of 30.06 and a beta of 0.38.
El Paso Electric (NYSE:EE) last announced its earnings results on Friday, May 8th. The utilities provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The business had revenue of $158.56 million for the quarter. El Paso Electric had a net margin of 9.66% and a return on equity of 7.55%.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, June 15th.
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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