UPDATE: Jefferies Color on Empire District Electric Target Decrease

Jefferies, which lowered its PT on shares of Empire District Electric EDE, is providing some color on the stock. “Empire hosted a conference call to update investors on the storm and its impact on the company's dividend,” Jefferies writes. “The company announced that it has suspended the quarterly dividend for 2011 and will reinstitute it in 2012 at $0.25 per share versus the current $0.32. Management estimates that approximately 10-15% of load has been damaged and will not return to the system in the foreseeable future (2-3 years).” Empire District Electric closed Thursday at $19.03.