Edison International (EIX) Holdings Lifted by Horizon Investment Services LLC
Horizon Investment Services LLC increased its holdings in Edison International (NYSE:EIX) by 18.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,037 shares of the utilities provider’s stock after buying an additional 1,430 shares during the period. Horizon Investment Services LLC’s holdings in Edison International were worth $707,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Guardian Life Insurance Co. of America boosted its holdings in shares of Edison International by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the period. Sun Life Financial INC boosted its holdings in shares of Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after buying an additional 2,371 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Edison International by 41.7% in the 1st quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the period. Gofen & Glossberg LLC IL acquired a new position in shares of Edison International in the 1st quarter valued at about $201,000. Finally, Bailard Inc. acquired a new position in shares of Edison International in the 1st quarter valued at about $201,000. 81.53% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) traded down 0.17% on Thursday, reaching $77.72. 227,492 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $79.61 and a 200-day moving average of $79.59. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The firm has a market capitalization of $25.32 billion, a price-to-earnings ratio of 18.38 and a beta of 0.22.
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, hitting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Edison International will post $4.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, September 28th. Edison International’s payout ratio is 50.82%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on EIX shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Jefferies Group LLC raised shares of Edison International from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, July 6th. Mizuho reaffirmed a “buy” rating and issued a $87.00 price target (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Edison International has a consensus rating of “Hold” and an average target price of $84.83.
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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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