Edison International (EIX) Shares Bought by Veritable L.P.
Veritable L.P. raised its holdings in Edison International (NYSE:EIX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,853 shares of the utilities provider’s stock after purchasing an additional 84 shares during the quarter. Veritable L.P.’s holdings in Edison International were worth $849,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Guardian Life Insurance Co. of America raised 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 purchasing an additional 8 shares during the period. Wetherby Asset Management Inc. raised its position in Edison International by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 12 shares during the period. CENTRAL TRUST Co raised its position in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock valued at $235,000 after purchasing an additional 22 shares during the period. Cleararc Capital Inc. raised its position in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after purchasing an additional 42 shares during the period. Finally, HL Financial Services LLC raised its position in Edison International by 2.7% in the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 70 shares during the period. Institutional investors own 81.53% of the company’s stock.
A number of equities research analysts have commented on the company. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley lifted their target price on Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Mizuho restated a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Citigroup Inc. restated a “neutral” rating and issued a $84.00 target price (down previously from $85.00) on shares of Edison International in a research report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $84.17.
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In related news, insider Ronald L. Litzinger sold 224,715 shares of Edison International 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 transaction, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 77.17 on Friday. Edison International has a one year low of $67.44 and a one year high of $82.82. The stock has a market cap of $25.14 billion, a P/E ratio of 18.25 and a beta of 0.24. The firm’s 50-day moving average price is $80.05 and its 200 day moving average price is $79.66.
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, meeting the Zacks’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that Edison International will post $4.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s payout ratio is currently 50.82%.
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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