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El Paso Electric Co (EE): Billionaire Mario Gabelli’s GAMCO Investors Reports 8.94% Stake

A new 13D filing showed that Billionaire Mario Gabelli’s GAMCO Investors and its affiliates own a total of 3,62 million shares of El Paso Electric Company (NYSE:EE), which account for 8.94% of the total amount of shares. Out of the aggregate amount, GAMCO Investors solely owns 1.72 million shares of El Paso Electric Company, which represent 4.26% of the company’s outstanding stock. There has been a slight decrease in the number of shares owned by GAMCO, as its last 13F filing (for the end of 2015) reported holding 1.76 million shares.

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El Paso Electric Company offers a variety of electric-related services such as generation and distribution of electricity in the southern New Mexico and over the west Texas. The company’s shares have increased by 22.3% over the last 12 months. For the first quarter, El Paso Electric Company reported a net loss per share of $0.14, compared to a profit of $0.09 posted a year earlier, while the revenue slid to $113.80 million from $163.75 million. Analysts were expecting a loss of $0.07 per share on revenue of $114.80 million.

Insider Monkey’s database has shown an increase of interest towards El Paso Electric Company (NYSE:EE) from a number of hedge funds recently, as 11 investors were bullish on this stock at the end of 2015, versus 9 funds a quarter earlier. Mario Gabelli’s GAMCO Investors disclosed the biggest position worth around $67.6 million, followed by Israel Englander’s Millennium Management, which reported a position valued at $32.6 million. Other investors that were similarly bullish on El Paso Electric Company (NYSE:EE) encompass  D. E. Shaw’s D E Shaw, Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group, Paul Tudor Jones’ Tudor Investment Corp, Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital,  David Costen Haley’s HBK Investments, Matthew Tewksbury’s Stevens Capital Management, and Thomas Bailard’s Bailard Inc.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Gabelli Funds 1,888,000 1,888,000 1,888,000 4.66%
GAMCO Asset Management Inc. I.D. No. 13-40445 1,551,321 1,723,821 1,723,821 4.26%
MJG-IV Limited Partnership I.D. No. 13-31918 3,000 3,000 3,000 0.01%
GGCP, Inc. I.D. No. 13-3056041 0.00%
GAMCO Investors, Inc. I.D. No. 13-400786 0.00%
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) 0.00%
Mario J. Gabelli 6,000 6,000 6,000 0.01%

Mario Gabelli
Mario Gabelli
GAMCO Investors

Page 1 of 16 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934 (Amendment No. 6)
El Paso Electric Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________ May 3, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  .

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