Royal London Asset Management Ltd. Purchases Shares of 131,523 Edison International (EIX)
Royal London Asset Management Ltd. purchased a new stake in Edison International (NYSE:EIX) during the 2nd quarter, Holdings Channel reports. The fund purchased 131,523 shares of the utilities provider’s stock, valued at approximately $8,323,000.
A number of other institutional investors and hedge funds have also modified their holdings of EIX. Pzena Investment Management LLC lifted its stake 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 valued at $495,809,000 after buying an additional 2,361,340 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Edison International by 15.3% during the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock valued at $702,028,000 after acquiring an additional 1,475,620 shares in the last quarter. Natixis increased its holdings in shares of Edison International by 241.3% during the first quarter. Natixis now owns 905,286 shares of the utilities provider’s stock valued at $57,631,000 after acquiring an additional 640,031 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Edison International by 13.2% during the second quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock valued at $292,702,000 after acquiring an additional 539,897 shares in the last quarter. Finally, Columbus Hill Capital Management L.P. increased its holdings in shares of Edison International by 1,706.3% during the second quarter. Columbus Hill Capital Management L.P. now owns 505,753 shares of the utilities provider’s stock valued at $31,999,000 after acquiring an additional 477,753 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on EIX shares. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. JPMorgan Chase & Co. boosted their price objective on Edison International from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, June 1st. ValuEngine downgraded Edison International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Wells Fargo & Co decreased their price objective on Edison International from $74.00 to $72.00 and set a “hold” rating for the company in a report on Monday, June 11th. Finally, Morgan Stanley decreased their price objective on Edison International from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $73.71.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Edison International’s revenue was down 5.1% compared to the same quarter last year. equities analysts anticipate that Edison International will post 4.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be issued a dividend of $0.605 per share. The ex-dividend date is Thursday, September 27th. This represents a $2.42 annualized dividend and a yield of 3.58%. Edison International’s dividend payout ratio (DPR) is currently 53.78%.
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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