Brighton Jones LLC Has $231,000 Stake in Edison International (EIX)
Brighton Jones LLC maintained its position in Edison International (NYSE:EIX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,953 shares of the utilities provider’s stock at the end of the second quarter. Brighton Jones LLC’s holdings in Edison International were worth $231,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EIX. Guardian Life Insurance Co. of America boosted its position in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC boosted its position in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the last quarter. Wayne Hummer Investments L.L.C. bought a new position in Edison International during the first quarter valued at approximately $200,000. Gofen & Glossberg LLC IL bought a new position in Edison International during the first quarter valued at approximately $201,000. Finally, Bailard Inc. bought a new position in Edison International during the first quarter valued at approximately $201,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Edison International (NYSE EIX) opened at 80.45 on Wednesday. The stock has a market capitalization of $26.21 billion, a P/E ratio of 19.02 and a beta of 0.22. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The firm’s 50-day moving average price is $78.84 and its 200 day moving average price is $79.21.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Analysts expect that Edison International will post $4.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.70%. Edison International’s dividend payout ratio is presently 50.82%.
Several research analysts recently commented on EIX shares. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Thursday, July 6th. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Edison International in a research report on Thursday, August 17th. Mizuho reaffirmed a “buy” rating and set a $87.00 price objective (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and an average target price of $84.00.
In other Edison International news, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the transaction, the insider now owns 4,550 shares in the company, valued at $369,915. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction dated 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 owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The disclosure for this sale can be found here. Insiders have sold 229,715 shares of company stock valued at $18,505,971 in the last quarter. Company insiders own 0.41% of the company’s stock.
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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