Endurance Wealth Management Inc. continued to hold its stake in Edison International (NYSE:EIX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,000 shares of the utilities provider’s stock at the end of the second quarter. Endurance Wealth Management Inc.’s holdings in Edison International were worth $235,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EIX. Tudor Investment Corp ET AL increased its stake in Edison International by 79.9% in the first quarter. Tudor Investment Corp ET AL now owns 10,077 shares of the utilities provider’s stock valued at $802,000 after buying an additional 4,477 shares during the period. BlackRock Inc. increased its stake in Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after buying an additional 23,420,049 shares during the period. Meeder Asset Management Inc. increased its stake in Edison International by 259.9% in the first quarter. Meeder Asset Management Inc. now owns 44,368 shares of the utilities provider’s stock valued at $3,532,000 after buying an additional 32,041 shares during the period. Brighton Jones LLC purchased a new stake in Edison International during the first quarter valued at about $235,000. Finally, Ngam Advisors L.P. increased its stake in Edison International by 3.1% in the first quarter. Ngam Advisors L.P. now owns 34,176 shares of the utilities provider’s stock valued at $2,720,000 after buying an additional 1,014 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edison International (NYSE EIX) opened at 79.44 on Tuesday. The stock has a 50 day moving average of $78.84 and a 200 day moving average of $78.37. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The company has a market cap of $25.88 billion, a P/E ratio of 18.78 and a beta of 0.22.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. On average, equities analysts anticipate that Edison International will post $4.24 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on EIX shares. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Thursday, July 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price target (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Mizuho reaffirmed a “buy” rating and set a $91.50 price target on shares of Edison International in a research note on Wednesday, April 19th. Finally, BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research note on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $83.46.
In related news, Director W Brett White sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $204,175. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,035 shares of company stock valued at $2,460,285. Corporate insiders own 0.41% of the company’s stock.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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