Investors are more bearish on shares of El Paso Electric Company if you watch the increase in short interest. The company realized a rise in short interest between October 13, 2017 and October 31, 2017 of 10.07%. Short shares increased from 425,398 to 468,227 over that timeframe. Days to cover decreased from 2.0 to 2.0 and the short interest percentage is 0.01% as of October 31.
These firms have modified their investment in EE. As of the end of the quarter California State Teachers Retirement System had sold a total of 6,964 shares trimming its position 9.7%. The value in dollars went from $3,707,000 to $3,577,000 decreasing 3.5% quarter over quarter. As of quarter end UBS Asset Management Americas Inc had acquired 635 shares growing its holdings by 3,023.8%. The value of the investment in EE increased from $1,086,000 to $36,244,000 a change of 3,237.4% quarter to quarter.
As of the end of the quarter Dimensional Fund Advisors LP had bought a total of 10,194 shares growing its stake by 1.0%. The value of the investment in El Paso Electric Company went from $50,676,000 to $54,720,000 a change of $4,044,000 since the last quarter. Raymond James & Associates added to its position by buying 958 shares an increase of 2.6% in the quarter. Raymond James & Associates claims 37,335 shares with a value of $2,063,000. The value of the position overall is up by 9.7%.
October 27 investment analysts at Mizuho kept the stock rating at “Hold” targeting a price of $55.00. On October 24, 2017 Bank of America Corporation updated coverage of EE with an initial rating of “Buy”.
On October 6 Jefferies Group LLC maintained a company rating of “Hold” with a current price target of $57.00.
On October 4 Mizuho made no change to the company rating of “Hold” projecting a price of $56.00. Equity analyst Mizuho released research on EE setting a rating of “Neutral”.
In the market the company is trading up by 0.34% percent from yesterday’s close. El Paso Electric Company currently has a P/E ratio of 25.01 and the market value is 2.43B. In the latest earnings report the EPS was $2.39 with 40.59M shares currently outstanding.
El Paso Electric Company, launched on August 30, 1901, is a public utility company. As of December 31, 2016, the Company was 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. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW). The Business’s energy sources consists of nuclear fuel, natural gas, coal, purchased power and generated by Company-owned solar photovoltaic panels. As of December 31, 2016, the Company had power purchase agreements for 107 MW from solar photovoltaic generation facilities. As of December 31, 2016, the Company served approximately 411,100 residential, commercial, industrial, public authority and wholesale customers. The Company distributes electricity to retail customers principally in El Paso, Texas and Las Cruces, New Mexico. In addition, the Business’s wholesale sales include sales for resale to other electric utilities and power marketers..