DekaBank Deutsche Girozentrale Acquires 6,117 Shares of Edison International (EIX)
DekaBank Deutsche Girozentrale raised its position in shares of Edison International (NYSE:EIX) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,855 shares of the utilities provider’s stock after buying an additional 6,117 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Edison International were worth $5,791,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Baystate Wealth Management LLC raised its position in Edison International by 1.6% in the first quarter. Baystate Wealth Management LLC now owns 3,092 shares of the utilities provider’s stock worth $250,000 after buying an additional 50 shares during the period. BTIM Corp. raised its position in Edison International by 0.5% in the first quarter. BTIM Corp. now owns 55,785 shares of the utilities provider’s stock worth $4,441,000 after buying an additional 290 shares during the period. Waldron LP acquired a new position in Edison International during the first quarter worth $211,000. Mn Services Vermogensbeheer B.V. raised its position in Edison International by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,689 shares of the utilities provider’s stock worth $647,000 after buying an additional 338 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its position in Edison International by 0.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 289,248 shares of the utilities provider’s stock worth $23,027,000 after buying an additional 2,501 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.
Edison International (NYSE:EIX) opened at 79.92 on Wednesday. The company has a market capitalization of $26.04 billion, a P/E ratio of 18.90 and a beta of 0.22. The firm has a 50-day moving average of $78.38 and a 200-day moving average of $78.88. Edison International has a one year low of $67.44 and a one year high of $82.82.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, analysts anticipate that Edison International will post $4.24 earnings per share for the current year.
A number of research firms recently weighed in on EIX. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. Mizuho reaffirmed a “buy” rating and set a $91.50 price objective on shares of Edison International in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price objective (up from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Morgan Stanley lifted their price objective on shares of Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC raised shares of Edison International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $84.35.
In other news, Director W Brett White sold 2,500 shares of Edison International stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total value of $204,175.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at approximately $204,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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