The stock of Empire District Electric Co (NYSE:EDE) hit a new 52-week high and has $41.00 target or 20.00% above today’s $34.17 share price. The 6 months bullish chart indicates low risk for the $1.51 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $41.00 price target is reached, the company will be worth $302.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 57,666 shares traded hands. Empire District Electric Co (NYSE:EDE) has risen 4.18% since February 26, 2016 and is uptrending. It has underperformed by 6.24% the S&P500.
Analysts await Empire District Electric Co (NYSE:EDE) to report earnings on November, 3.
Empire District Electric Co (NYSE:EDE) Ratings Coverage
Out of 2 analysts covering Empire District Elec (NYSE:EDE), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Empire District Elec has been the topic of 3 analyst reports since October 14, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Ladenburg Thalmann given on Wednesday, October 14. The stock of Empire District Electric Co (NYSE:EDE) has “Overweight” rating given on Tuesday, December 8 by KeyBanc Capital Markets. The rating was downgraded by Ladenburg Thalmann on Friday, April 29 to “Neutral”.
According to Zacks Investment Research, “The Empire District Electric Company is an operating public utility engaged in the generation, purchase, transmission, distribution and sale of electricity in parts of Missouri, Kansas, Oklahoma and Arkansas. The Company also provides water service to several towns in Missouri.”
Insitutional Activity: The institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.14, from 0.84 in 2016Q1. The ratio improved, as 16 funds sold all Empire District Electric Co shares owned while 44 reduced positions. 12 funds bought stakes while 47 increased positions. They now own 26.24 million shares or 0.99% more from 25.98 million shares in 2016Q1.
The New York-based Blackrock has invested 0% in Empire District Electric Co (NYSE:EDE). Indexiq Advisors holds 0.04% or 17,789 shares in its portfolio. Allianz Asset Management Ag, a Germany-based fund reported 315,101 shares. Symons Inc reported 20,045 shares or 0.16% of all its holdings. Ent Fincl Svcs Corp holds 0.02% of its portfolio in Empire District Electric Co (NYSE:EDE) for 874 shares. Savings Bank last reported 13,700 shares in the company. Sg Americas Secs Ltd last reported 0.02% of its portfolio in the stock. Water Island Capital Lc last reported 0.48% of its portfolio in the stock. Legal General Gp Public Ltd Llc holds 101,015 shares or 0% of its portfolio. Swiss National Bank accumulated 69,250 shares or 0% of the stock. Sei Investments owns 112 shares or 0% of their US portfolio. Macquarie Gru Ltd accumulated 0% or 13,500 shares. Moreover, Mcf Advsr Lc has 0% invested in Empire District Electric Co (NYSE:EDE) for 275 shares. Wealthtrust has 0% invested in the company for 26 shares. Blackrock Invest Mgmt Ltd Limited Liability Company reported 181,791 shares or 0.01% of all its holdings.
More notable recent Empire District Electric Co (NYSE:EDE) news were published by: Marketwatch.com which released: “Empire District Electric Co.” on May 31, 2010, also Fool.com with their article: “Merger Agreement Sends Empire District Electric Co’s Stock Soaring” published on February 10, 2016, Finance.Yahoo.com published: “Algonquin Power & Utilities Corp. and The Empire District Electric Company …” on September 08, 2016. More interesting news about Empire District Electric Co (NYSE:EDE) were released by: Businesswire.com and their article: “The Empire District Electric Company Exploring Strategic Alternatives” published on December 14, 2015 as well as Businesswire.com‘s news article titled: “Algonquin Power & Utilities Corp. to Acquire The Empire District Electric …” with publication date: February 09, 2016.
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