Seven Eight Capital LP purchased a new stake in shares of Edison International (NYSE:EIX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,491 shares of the utilities provider’s stock, valued at approximately $351,000.

A number of other institutional investors have also added to or reduced their stakes in EIX. Vanguard Group Inc. increased its position in Edison International by 4.8% during the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock valued at $2,139,597,000 after acquiring an additional 1,239,752 shares during the last quarter. BlackRock Inc. increased its position in Edison International by 2,416.6% during the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after acquiring an additional 23,420,049 shares during the last quarter. JPMorgan Chase & Co. increased its position in Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after acquiring an additional 526,261 shares during the last quarter. Alliancebernstein L.P. increased its position in Edison International by 6.1% during the first quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock valued at $456,468,000 after acquiring an additional 330,071 shares during the last quarter. Finally, Boston Partners increased its position in Edison International by 4.2% during the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after acquiring an additional 151,153 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

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In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction dated 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 directly owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Edison International (EIX) opened at 80.55 on Tuesday. The company has a market capitalization of $26.24 billion, a PE ratio of 19.05 and a beta of 0.24. The firm’s 50-day moving average is $80.02 and its 200 day moving average is $79.66. Edison International has a one year low of $67.44 and a one year high of $82.82.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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 posted $0.85 EPS. On average, equities 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. Shareholders of record on Friday, September 29th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio is currently 50.82%.

A number of research analysts have weighed in on EIX shares. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, July 6th. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley boosted their price objective on shares of Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Mizuho reiterated a “buy” rating and set a $87.00 price objective (up previously from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $84.00 price objective on shares of Edison International in a research report on Sunday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $84.15.

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.

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

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