Bank of Nova Scotia decreased its holdings in Edison International (NYSE:EIX) by 81.0% in the second quarter, HoldingsChannel.com reports. The fund owned 36,610 shares of the utilities provider’s stock after selling 155,905 shares during the period. Bank of Nova Scotia’s holdings in Edison International were worth $2,316,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Macquarie Group Ltd. raised its holdings in Edison International by 15.3% in the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock worth $702,028,000 after purchasing an additional 1,475,620 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Edison International by 43.1% in the second quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock worth $495,809,000 after purchasing an additional 2,361,340 shares in the last quarter. Boston Partners raised its holdings in Edison International by 3.0% in the second quarter. Boston Partners now owns 5,075,296 shares of the utilities provider’s stock worth $321,114,000 after purchasing an additional 145,785 shares in the last quarter. American Century Companies Inc. raised its holdings in Edison International by 13.2% in the second quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock worth $292,702,000 after purchasing an additional 539,897 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Edison International by 7.2% in the second quarter. Legal & General Group Plc now owns 3,151,054 shares of the utilities provider’s stock worth $199,336,000 after purchasing an additional 210,647 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Shares of NYSE:EIX opened at $66.97 on Wednesday. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $22.27 billion, a PE ratio of 14.88, a P/E/G ratio of 2.87 and a beta of 0.09.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. sell-side analysts predict that Edison International will post 4.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.605 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.42 annualized dividend and a dividend yield of 3.61%. Edison International’s payout ratio is presently 53.78%.

A number of equities analysts have issued reports on EIX shares. SunTrust Banks reiterated a “buy” rating and issued a $75.00 price objective on shares of Edison International in a report on Wednesday, July 25th. Morgan Stanley reiterated a “hold” rating on shares of Edison International in a report on Monday, August 27th. Wells Fargo & Co increased their price objective on Edison International from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. JPMorgan Chase & Co. increased their price objective on Edison International from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, June 1st. Finally, Bank of America increased their price objective on Edison International from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $73.71.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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

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