Edison International (EIX) Holdings Reduced by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado reduced its stake in Edison International (NYSE:EIX) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,642 shares of the utilities provider’s stock after selling 3,536 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Edison International were worth $4,371,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. increased its stake in Edison International by 18.4% in the second quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after purchasing an additional 85,968 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Edison International by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after purchasing an additional 526,261 shares during the last quarter. Principal Financial Group Inc. increased its stake in Edison International by 1.9% in the second quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after purchasing an additional 12,086 shares during the last quarter. GAM Holding AG increased its stake in Edison International by 8.0% in the second quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock valued at $3,374,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK increased its stake in Edison International by 5.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 505,199 shares of the utilities provider’s stock valued at $39,502,000 after purchasing an additional 25,936 shares during the last quarter. Institutional investors own 81.68% of the company’s stock.
A number of equities analysts have recently issued reports on EIX shares. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Morgan Stanley raised their target price on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Mizuho restated a “buy” rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Bank of America Corporation restated a “buy” rating and set a $86.00 target price on shares of Edison International in a research report on Tuesday, October 24th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.08.
In other Edison International 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 value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
Shares of Edison International (NYSE:EIX) opened at $79.52 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a fifty-two week low of $67.44 and a fifty-two week high of $82.82. The firm has a market capitalization of $25,908.50, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.88 and a beta of 0.24.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. analysts anticipate that Edison International will post 4.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is currently 48.98%.
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About Edison International
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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