Global X Management Co. LLC boosted its position in Empire District Electric Co. (NYSE:EDE) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,048 shares of the company’s stock after buying an additional 17,009 shares during the period. Global X Management Co. LLC’s holdings in Empire District Electric were worth $6,591,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EDE. Creative Planning increased its stake in shares of Empire District Electric by 2.1% in the second quarter. Creative Planning now owns 8,151 shares of the company’s stock worth $277,000 after buying an additional 169 shares during the period. Cribstone Capital Management LLC purchased a new stake in shares of Empire District Electric during the second quarter worth approximately $110,000. Eagle Boston Investment Management Inc. increased its stake in shares of Empire District Electric by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 274,404 shares of the company’s stock worth $9,321,000 after buying an additional 7,819 shares during the period. Bank of Montreal Can purchased a new stake in shares of Empire District Electric during the second quarter worth approximately $215,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Empire District Electric by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 436,370 shares of the company’s stock worth $14,823,000 after buying an additional 15,945 shares during the period. Institutional investors and hedge funds own 66.02% of the company’s stock.

Institutional Ownership by Quarter for Empire District Electric (NYSE:EDE)

Empire District Electric Co. (NYSE:EDE) traded down 0.26% during midday trading on Tuesday, reaching $34.11. 78,511 shares of the company’s stock traded hands. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 24.88 and a beta of 0.11. Empire District Electric Co. has a 52 week low of $22.18 and a 52 week high of $34.49. The company’s 50-day moving average price is $34.28 and its 200 day moving average price is $33.94.

Empire District Electric (NYSE:EDE) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.63 earnings per share (EPS) for the quarter, hitting 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, equities research analysts expect that Empire District Electric Co. will post $1.48 earnings per share for the current year.

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

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EDE has been the subject of a number of recent research reports. RBC Capital Markets reiterated a “sector perform” rating and set a $22.00 price target on shares of Empire District Electric in a report on Friday, September 9th. Scotiabank reiterated a “sector perform” rating and set a $23.00 price target on shares of Empire District Electric in a report on Wednesday, September 14th. TD Securities reiterated a “hold” rating and set a $20.00 price target on shares of Empire District Electric in a report on Thursday, September 15th. Barclays PLC restated an “underweight” rating and issued a $18.00 target price (down from $19.00) on shares of Empire District Electric in a report on Monday, September 19th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $21.00 target price on shares of Empire District Electric in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average 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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