Edison International (EIX) Shares Bought by Engineers Gate Manager LP
Engineers Gate Manager LP boosted its holdings in Edison International (NYSE:EIX) by 282.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,219 shares of the utilities provider’s stock after purchasing an additional 35,603 shares during the period. Engineers Gate Manager LP’s holdings in Edison International were worth $3,721,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of EIX. Amica Retiree Medical Trust purchased a new position in shares of Edison International during the 3rd quarter valued at $138,000. Sun Life Financial INC lifted its position in shares of Edison International by 16,935.7% during 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 last quarter. OxFORD Asset Management LLP purchased a new position in shares of Edison International during the 2nd quarter valued at $204,000. TCI Wealth Advisors Inc. lifted its position in shares of Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after buying an additional 1,533 shares during the last quarter. Finally, Shelton Capital Management purchased a new position in shares of Edison International during the 2nd quarter valued at $206,000. 81.36% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the company. Deutsche Bank dropped their price target on Edison International to $78.00 and set a “hold” rating on the stock in a research report on Wednesday. Mizuho lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday. ValuEngine lowered Edison International from a “buy” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks reiterated a “buy” rating and set a $89.00 price objective on shares of Edison International in a research note on Monday, October 30th. Finally, Bank of America reiterated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research note on Tuesday, October 24th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $84.85.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. sell-side analysts predict that Edison International will post 4.33 EPS for the current fiscal year.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.
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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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