Nexus Investment Management Inc. Has $712,000 Stake in Edison International (NYSE:EIX)
Nexus Investment Management Inc. boosted its position in Edison International (NYSE:EIX) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,100 shares of the utilities provider’s stock after buying an additional 200 shares during the period. Nexus Investment Management Inc.’s holdings in Edison International were worth $712,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Edison International by 4.8% in 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 buying an additional 1,239,752 shares during the period. BlackRock Inc. increased its stake in shares of 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 last quarter. Macquarie Group Ltd. increased its stake in shares of Edison International by 8.6% in the fourth quarter. Macquarie Group Ltd. now owns 11,222,827 shares of the utilities provider’s stock valued at $807,931,000 after buying an additional 885,507 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Edison International by 6.1% in the first quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock valued at $456,468,000 after buying an additional 330,071 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Edison International by 9.0% in the first quarter. Geode Capital Management LLC now owns 3,180,637 shares of the utilities provider’s stock valued at $252,849,000 after buying an additional 262,165 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Shares of Edison International (NYSE:EIX) opened at 79.29 on Monday. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The company has a market cap of $25.83 billion, a PE ratio of 18.75 and a beta of 0.22. The firm has a 50-day moving average price of $78.84 and a 200 day moving average price of $78.37.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $0.85 EPS. Edison International’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Edison International will post $4.24 earnings per share for the current year.
Several research analysts recently commented on EIX shares. Deutsche Bank AG raised their target price on Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Mizuho reissued a “buy” rating and set a $91.50 price objective on shares of Edison International in a report on Wednesday, April 19th. Barclays PLC reissued an “equal weight” rating and set a $84.00 price objective (up from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Jefferies Group LLC reissued a “hold” rating and set a $83.00 price objective (up from $80.00) on shares of Edison International in a report on Tuesday, May 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $85.00 price objective (up from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $83.46.
In other news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the transaction, the insider now directly owns 4,550 shares in the company, valued at $369,915. The disclosure for this sale can be found here. Insiders have sold a total of 31,035 shares of company stock valued at $2,460,285 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
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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