Balyasny Asset Management LLC Buys 10,929 Shares of Edison International (EIX)
Balyasny Asset Management LLC increased its stake in shares of Edison International (NYSE:EIX) by 79.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,664 shares of the utilities provider’s stock after acquiring an additional 10,929 shares during the quarter. Balyasny Asset Management LLC’s holdings in Edison International were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America grew its position 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 worth $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC grew its position 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 worth $198,000 after buying an additional 741 shares during the last quarter. Bailard Inc. bought a new stake in shares of Edison International in the 1st quarter worth approximately $201,000. OxFORD Asset Management LLP bought a new stake in shares of Edison International in the 2nd quarter worth approximately $204,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Edison International in the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 81.53% of the company’s stock.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.
Shares of Edison International (NYSE:EIX) opened at 79.66 on Friday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The company has a market capitalization of $25.95 billion, a price-to-earnings ratio of 18.84 and a beta of 0.22. The stock has a 50 day moving average price of $79.36 and a 200-day moving average price of $79.52.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Analysts expect that Edison International will post $4.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.72%. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
A number of equities research analysts have recently weighed in on the company. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $89.00 price objective on shares of Edison International in a research report on Monday, October 2nd. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley lifted their price objective on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Mizuho reiterated a “buy” rating and issued a $86.00 price objective on shares of Edison International in a research report on Monday. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Edison International in a research report on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $84.75.
About Edison International
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.
Receive News & Stock Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related stocks with our FREE daily email newsletter.