National Pension Service Cuts Stake in Edison International (NYSE:EIX)
National Pension Service lowered its holdings in shares of Edison International (NYSE:EIX) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,246 shares of the utilities provider’s stock after selling 27,281 shares during the quarter. National Pension Service’s holdings in Edison International were worth $25,969,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of Edison International by 12.6% during the second quarter. Captrust Financial Advisors now owns 3,084 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 345 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Edison International by 24.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,003,826 shares of the utilities provider’s stock valued at $62,157,000 after buying an additional 198,252 shares in the last quarter. Neuburgh Advisers LLC grew its holdings in Edison International by 105.4% during the 1st quarter. Neuburgh Advisers LLC now owns 51,502 shares of the utilities provider’s stock valued at $3,189,000 after buying an additional 26,422 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Edison International by 0.8% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 49,509 shares of the utilities provider’s stock valued at $3,066,000 after buying an additional 407 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Edison International by 10.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 92,247 shares of the utilities provider’s stock valued at $6,218,000 after buying an additional 8,350 shares in the last quarter. Hedge funds and other institutional investors own 77.85% of the company’s stock.
Shares of Edison International stock traded up $0.43 on Thursday, reaching $72.50. The company had a trading volume of 559,977 shares, compared to its average volume of 1,818,168. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.92 and a beta of 0.11. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.69 and a quick ratio of 0.64. The firm’s 50-day moving average price is $72.60 and its two-hundred day moving average price is $66.01. Edison International has a 1 year low of $45.50 and a 1 year high of $75.39.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.613 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, September 27th. Edison International’s dividend payout ratio (DPR) is currently 59.04%.
Several equities analysts have weighed in on EIX shares. Barclays raised their price target on Edison International from $72.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price target for the company from $67.00 to $72.00 in a report on Tuesday, June 4th. SunTrust Banks lifted their target price on Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating and set a $63.00 target price for the company in a report on Friday, May 31st. Finally, Wells Fargo & Co set a $73.00 target price on Edison International and gave the stock a “hold” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Edison International has an average rating of “Hold” and a consensus target price of $72.64.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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