Edison International (EIX) Stake Reduced by TD Asset Management Inc.
TD Asset Management Inc. reduced its position in Edison International (NYSE:EIX) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,366 shares of the utilities provider’s stock after selling 9,420 shares during the period. TD Asset Management Inc.’s holdings in Edison International were worth $10,037,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake 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 worth $100,000 after buying an additional 8 shares during the period. Jones Collombin Investment Counsel Inc increased its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the period. Parallel Advisors LLC increased its stake in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. purchased a new stake in Edison International during the first quarter worth $200,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in Edison International during the first quarter worth $201,000. 81.73% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE EIX) opened at 79.92 on Wednesday. The stock has a 50 day moving average of $78.38 and a 200-day moving average of $78.88. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The firm has a market capitalization of $26.04 billion, a P/E ratio of 18.90 and a beta of 0.22.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Edison International will post $4.24 earnings per share for the current year.
A number of research firms have weighed in on EIX. UBS AG downgraded Edison International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $82.00 to $80.00 in a research report on Wednesday, May 17th. Morgan Stanley upped their target price on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. BidaskClub upgraded Edison International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $84.00 target price (down from $85.00) on shares of Edison International in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $84.35.
In related news, insider Gaddi H. Vasquez sold 2,500 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the sale, the insider now directly owns 4,550 shares of the company’s stock, valued at approximately $369,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.
Edison International Company 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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