Edison International (EIX) Shares Sold by ETRADE Capital Management LLC
ETRADE Capital Management LLC lowered its stake in shares of Edison International (NYSE:EIX) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,816 shares of the utilities provider’s stock after selling 1,208 shares during the quarter. ETRADE Capital Management LLC’s holdings in Edison International were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America raised its holdings in Edison International by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 8 shares in the last quarter. Parallel Advisors LLC raised its holdings in Edison International by 41.7% during the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 741 shares in the last quarter. Wayne Hummer Investments L.L.C. acquired a new stake in Edison International during the first quarter worth approximately $200,000. Gofen & Glossberg LLC IL acquired a new stake in Edison International during the first quarter worth approximately $201,000. Finally, Bailard Inc. acquired a new stake in Edison International during the first quarter worth approximately $201,000. 81.53% of the stock is currently owned by institutional investors.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the 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 transaction, the insider now owns 14,121 shares in the company, valued at approximately $1,137,305.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.
A number of analysts have weighed in on EIX shares. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, July 6th. Jefferies Group LLC raised shares of 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 report on Friday, August 11th. Morgan Stanley lifted their target price on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Mizuho reaffirmed a “buy” rating and issued a $87.00 target price (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 target price on shares of Edison International in a report on Sunday, September 17th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $84.15.
Edison International (NYSE:EIX) traded down 0.24% during midday trading on Friday, hitting $78.47. 118,788 shares of the company traded hands. The stock has a market cap of $25.57 billion, a P/E ratio of 18.56 and a beta of 0.24. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The stock has a 50 day moving average of $80.05 and a 200 day moving average of $79.66.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. Edison International’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Equities research analysts predict that Edison International will post $4.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.76%. Edison International’s dividend payout ratio (DPR) is 50.82%.
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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