HighTower Advisors LLC raised its stake in Edison International (NYSE:EIX) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,714 shares of the utilities provider’s stock after acquiring an additional 2,001 shares during the period. HighTower Advisors LLC’s holdings in Edison International were worth $1,932,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased 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 worth $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC increased 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 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 about $201,000. OxFORD Asset Management LLP bought a new stake in shares of Edison International in the 2nd quarter worth about $204,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Edison International in the 2nd quarter worth about $207,000. Institutional investors own 81.53% of the company’s stock.
Edison International (NYSE EIX) opened at 77.60 on Wednesday. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The stock has a 50 day moving average of $79.26 and a 200 day moving average of $79.49. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 18.35 and a beta of 0.22.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $2.97 billion during 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 was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Equities analysts expect that Edison International will post $4.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is currently 50.82%.
EIX has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Jefferies Group LLC reiterated a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $85.00.
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In related news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s 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 transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.
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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