First Trust Advisors LP boosted its stake in Edison International (NYSE:EIX) by 15.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 867,103 shares of the utilities provider’s stock after buying an additional 117,448 shares during the period. First Trust Advisors LP’s holdings in Edison International were worth $67,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. BlackRock Inc. raised its position in Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after buying an additional 23,420,049 shares in the last quarter. Vanguard Group Inc. raised its position in Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock valued at $2,139,597,000 after buying an additional 1,239,752 shares in the last quarter. Brookfield Asset Management Inc. raised its position in Edison International by 127.9% in the first quarter. Brookfield Asset Management Inc. now owns 1,989,977 shares of the utilities provider’s stock valued at $158,422,000 after buying an additional 1,116,880 shares in the last quarter. Renaissance Technologies LLC raised its position in Edison International by 27.9% in the first quarter. Renaissance Technologies LLC now owns 2,991,000 shares of the utilities provider’s stock valued at $238,114,000 after buying an additional 653,100 shares in the last quarter. Finally, Morgan Stanley raised its position in Edison International by 50.3% in the first quarter. Morgan Stanley now owns 1,803,598 shares of the utilities provider’s stock valued at $143,586,000 after buying an additional 603,880 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Shares of Edison International (NYSE EIX) opened at 79.53 on Friday. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The firm has a 50-day moving average price of $78.39 and a 200-day moving average price of $78.66. The firm has a market capitalization of $25.91 billion, a PE ratio of 18.81 and a beta of 0.22.

Edison International (NYSE:EIX) last announced its quarterly 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. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, analysts forecast that Edison International will post $4.24 EPS for the current fiscal year.

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Several research analysts have recently commented on EIX shares. Mizuho restated a “buy” rating and set a $91.50 price target on shares of Edison International in a research report on Wednesday, April 19th. Zacks Investment Research lowered Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BMO Capital Markets restated an “outperform” rating and set a $85.00 price target (up from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Wolfe Research lowered Edison International from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus target price of $84.35.

In other Edison International news, insider Gaddi H. Vasquez sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the completion of the transaction, the insider now directly owns 4,550 shares of the company’s stock, valued at approximately $369,915. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,035 shares of company stock valued at $2,460,285. 0.41% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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