Andra AP fonden Increases Position in Edison International (EIX)
Andra AP fonden increased its position in shares of Edison International (NYSE:EIX) by 30.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,300 shares of the utilities provider’s stock after buying an additional 23,400 shares during the period. Andra AP fonden’s holdings in Edison International were worth $7,842,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 worth $2,139,597,000 after buying an additional 1,239,752 shares during the period. BlackRock Inc. raised its position 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 worth $1,941,622,000 after buying an additional 23,420,049 shares during the period. Alliancebernstein L.P. raised its position 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 worth $456,468,000 after buying an additional 330,071 shares during the period. Boston Partners raised its position in shares of Edison International by 4.2% in the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock worth $292,142,000 after buying an additional 151,153 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $252,849,000 after buying an additional 262,165 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.
Shares of Edison International (EIX) opened at 80.75 on Friday. Edison International has a one year low of $67.44 and a one year high of $82.82. The company has a market cap of $26.31 billion, a P/E ratio of 19.09 and a beta of 0.22. The stock’s 50 day moving average is $78.84 and its 200-day moving average is $79.21.
Edison International (NYSE:EIX) last posted 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 net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the firm posted $0.85 earnings per share. Edison International’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Edison International will post $4.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
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A number of research analysts have issued reports on EIX shares. Jefferies Group LLC restated a “hold” rating and set a $83.00 target price (up previously from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. BidaskClub lowered shares of Edison International from a “hold” rating to a “sell” rating in a research report on Sunday, June 25th. BMO Capital Markets restated an “outperform” rating and set a $85.00 target price (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $84.00.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were 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 $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director W Brett White sold 2,500 shares of the firm’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 of the company’s stock, valued at $204,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 229,715 shares of company stock valued at $18,505,971. 0.41% of the stock is currently owned by 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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