16,000 Shares in Edison International (EIX) Acquired by Quinn Opportunity Partners LLC
Quinn Opportunity Partners LLC bought a new stake in Edison International (NYSE:EIX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,000 shares of the utilities provider’s stock, valued at approximately $1,012,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FDx Advisors Inc. boosted its position in Edison International by 16.5% during the third quarter. FDx Advisors Inc. now owns 4,602 shares of the utilities provider’s stock worth $355,000 after acquiring an additional 653 shares during the last quarter. Amalgamated Bank boosted its position in Edison International by 1.9% during the third quarter. Amalgamated Bank now owns 36,581 shares of the utilities provider’s stock worth $2,823,000 after acquiring an additional 679 shares during the last quarter. Norinchukin Bank The boosted its position in Edison International by 2.9% during the third quarter. Norinchukin Bank The now owns 25,949 shares of the utilities provider’s stock worth $2,002,000 after acquiring an additional 738 shares during the last quarter. Pacer Advisors Inc. boosted its position in Edison International by 10.6% during the third quarter. Pacer Advisors Inc. now owns 7,728 shares of the utilities provider’s stock worth $596,000 after acquiring an additional 741 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Edison International by 2.4% during the third quarter. CIBC Asset Management Inc now owns 34,062 shares of the utilities provider’s stock worth $2,629,000 after acquiring an additional 787 shares during the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.
A number of research firms recently weighed in on EIX. SunTrust Banks restated a “buy” rating and set a $85.00 price target on shares of Edison International in a research report on Thursday, December 7th. Mizuho lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. Goldman Sachs Group set a $70.00 price target on shares of Edison International and gave the stock a “hold” rating in a research report on Friday, December 15th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.07.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. Edison International had a net margin of 5.59% and a return on equity of 10.86%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. Edison International’s quarterly revenue was up 11.7% compared to the same quarter last year. equities analysts predict that Edison International will post 4.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, March 28th. Edison International’s dividend payout ratio (DPR) is presently 140.70%.
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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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