Cohen & Steers Inc. Purchases 265,326 Shares of Edison International (EIX)
Cohen & Steers Inc. boosted its stake in Edison International (NYSE:EIX) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,928,108 shares of the utilities provider’s stock after purchasing an additional 265,326 shares during the quarter. Cohen & Steers Inc. owned approximately 0.59% of Edison International worth $148,792,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of EIX. USS Investment Management Ltd bought a new stake in shares of Edison International during the 3rd quarter valued at about $137,776,000. Janus Henderson Group PLC boosted its position in shares of Edison International by 2,522.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock valued at $96,552,000 after acquiring an additional 1,187,754 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Edison International during the 2nd quarter valued at about $55,640,000. Wells Fargo & Company MN boosted its position in shares of Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after acquiring an additional 598,402 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Edison International by 3.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after acquiring an additional 526,261 shares during the last quarter. Institutional investors and hedge funds own 81.36% of the company’s stock.
Shares of Edison International (NYSE EIX) opened at $71.80 on Friday. The firm has a market capitalization of $23,383.47, a P/E ratio of 16.35, a P/E/G ratio of 2.60 and a beta of 0.23. Edison International has a 12-month low of $67.80 and a 12-month high of $83.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.605 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, December 28th. Edison International’s payout ratio is 48.98%.
A number of analysts have recently issued reports on EIX shares. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Bank of America reiterated a “buy” rating and set a $86.00 price target on shares of Edison International in a research report on Tuesday, October 24th. Morgan Stanley lifted their price target on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, SunTrust Banks reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a research report on Monday, October 30th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus price target of $84.54.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by insiders.
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Edison International 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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