Laurel Wealth Advisors Inc. lowered its position in Edison International (NYSE:EIX) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,270 shares of the utilities provider’s stock after selling 107 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Edison International were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. BlackRock Inc. boosted 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 worth $1,941,622,000 after buying an additional 23,420,049 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Edison International by 4.8% during the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock valued at $2,139,597,000 after purchasing an additional 1,239,752 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Edison International by 2,522.5% during the second quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock valued at $96,552,000 after purchasing an additional 1,187,754 shares during the period. Brookfield Asset Management Inc. boosted its stake in shares of Edison International by 127.9% during the first quarter. Brookfield Asset Management Inc. now owns 1,989,977 shares of the utilities provider’s stock valued at $158,422,000 after purchasing an additional 1,116,880 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in shares of Edison International during the second quarter valued at approximately $55,640,000. 81.53% of the stock is owned by institutional investors and hedge funds.
Shares of Edison International (NYSE:EIX) traded up 0.97% during mid-day trading on Tuesday, reaching $78.30. The company had a trading volume of 243,643 shares. The firm has a 50-day moving average price of $79.47 and a 200-day moving average price of $79.54. The stock has a market capitalization of $25.51 billion, a price-to-earnings ratio of 18.52 and a beta of 0.22. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that Edison International will post $4.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 28th. Edison International’s payout ratio is 50.82%.
A number of research firms have recently weighed in on EIX. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Citigroup Inc. reissued a “neutral” rating and set a $84.00 price objective (down previously from $85.00) on shares of Edison International in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Royal Bank Of Canada reissued a “buy” rating and set a $84.00 price objective on shares of Edison International in a research note on Sunday, September 17th. Finally, Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Thursday, July 6th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.75.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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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