Edison International (EIX) Holdings Increased by Comerica Bank
Comerica Bank grew its holdings in shares of Edison International (NYSE:EIX) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 112,841 shares of the utilities provider’s stock after acquiring an additional 1,346 shares during the quarter. Comerica Bank’s holdings in Edison International were worth $6,962,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Ecofin Ltd. grew its holdings in Edison International by 0.6% during the 2nd quarter. Ecofin Ltd. now owns 30,727 shares of the utilities provider’s stock worth $2,403,000 after acquiring an additional 179 shares during the period. Americafirst Capital Management LLC grew its holdings in Edison International by 12.7% during the 2nd quarter. Americafirst Capital Management LLC now owns 5,288 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 595 shares during the period. FDx Advisors Inc. grew its holdings in Edison International by 16.5% during the 3rd 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 period. Amalgamated Bank grew its holdings in Edison International by 1.9% during the 3rd 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 period. Finally, Eqis Capital Management Inc. grew its holdings in Edison International by 9.2% during the 3rd quarter. Eqis Capital Management Inc. now owns 8,290 shares of the utilities provider’s stock worth $640,000 after acquiring an additional 698 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.
EIX has been the subject of a number of recent analyst reports. Citigroup increased their price target on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Bank of America reiterated a “buy” rating and set a $86.00 price target on shares of Edison International in a report on Tuesday, October 24th. SunTrust Banks restated a “buy” rating and issued a $89.00 target price on shares of Edison International in a research note on Monday, October 30th. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Finally, Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Edison International currently has a consensus rating of “Hold” and an average price target of $78.57.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were paid a $0.605 dividend. The ex-dividend date was Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a dividend yield of 4.11%. Edison International’s dividend payout ratio (DPR) is currently 55.25%.
In other news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.
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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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