Does Empire District (NYSE:EDE) Look Attractive Now? KeyBanc Capital Markets Initiates Coverage


Why Has KeyBanc Capital Markets Given Empire District (NYSE:EDE) a $24.00 Price Target

Analysts at KeyBanc Capital Markets have commenced coverage coverage on shares of Empire District (NYSE:EDE) in a note revealed to clients on 8 December. The brokerage set Overweight rating on the $979.52M market cap company.

From a total of 3 analysts covering Empire District Elec (NYSE:EDE) stock, 1 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 25% of the ratings are positive. Empire District Elec was the topic of 2 analyst reports since October 14, 2015 according to the firm StockzIntelligence Inc. KeyBanc Capital Markets initiated shares on December 8 with “Overweight” rating.

The stock increased 1.97% or $0.44 on December 8, striking $22.81. Approximately shares of stock traded hands. Empire District Electric Co (NYSE:EDE) has declined 2.02% since May 6, 2015 and is downtrending. It has underperformed by 1.22% the S&P500.

The overall sentiment of institutions has increased to 1.34 in Q2 2015. Its up 0.31, from 1.03 in 2015Q2. The ratio increased, as 12 institutions have sold all the shares of Empire District Electric Co that they owned while 35 funds have taken shares off the table. 7 funds have purchased shares for the first time while 56 added to their positions. These institutions now hold 28.92 million shares or 45.15% more than the 19.92 million shares they owned in 2015Q2.

The Fund Community Bank Of Raymore currently is holding shares equating to 2.34% of its total portfolio in Empire District Electric Co representing a total of 185,081 shares. Another fund,Aristotle Capital Boston Llc, is holding a total of 214,463 shares equating to 1.15% of their holdings. Additionally, Eagle Boston Investment Management Inc has a 344,970 share stake in Empire District Electric Co which represents 1.02% of their total portfolio. The Fund, Bell State Bank & Trust, based out of North Dakota, has also built up a stake in the stock, which represents a total of 0.7% of their total portfolio. Finally Old Republic International Corp, a fund which is based in the state of Illinois reported a total holdings of 467,500 shares.

The Empire District Electric Company is a regulated utility company. The company has a market cap of $979.52 million. The Firm is engaged in the generation, purchase, transmission, distribution and sale of electricity. It has 17.24 P/E ratio. It provides its services with in Missouri, Kansas, Oklahoma and Arkansas.

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.” Get a free copy of the Zacks research report on Empire District Electric Co (EDE).