Stevens Capital Management LP Has $9.57 Million Position in Edison International (EIX)
Stevens Capital Management LP boosted its stake in Edison International (NYSE:EIX) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,953 shares of the utilities provider’s stock after buying an additional 21,769 shares during the quarter. Stevens Capital Management LP’s holdings in Edison International were worth $9,565,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EIX. Sun Life Financial INC raised its position in Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after buying an additional 2,371 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Edison International by 139.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after buying an additional 1,533 shares during the last quarter. OxFORD Asset Management LLP purchased a new stake in Edison International in the 2nd quarter valued at $204,000. Shelton Capital Management purchased a new stake in Edison International in the 2nd quarter valued at $206,000. Finally, Great Lakes Advisors LLC purchased a new stake in Edison International in the 2nd quarter valued at $207,000. 81.68% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on EIX. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $89.00 target price on shares of Edison International in a research report on Monday, October 30th. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 target price on shares of Edison International in a research report on Tuesday, October 24th. Citigroup Inc. raised their target price on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Mizuho reaffirmed a “buy” rating and set a $86.00 target price on shares of Edison International in a research report on Monday, October 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Edison International presently has an average rating of “Hold” and an average target price of $85.08.
Edison International (NYSE EIX) traded down $0.67 during mid-day trading on Tuesday, hitting $78.85. The stock had a trading volume of 927,103 shares, compared to its average volume of 1,768,833. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The company has a market cap of $25,908.50, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.24. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 EPS. analysts predict that Edison International will post 4.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.75%. Edison International’s payout ratio is 48.98%.
In other 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 transaction 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 can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.
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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.
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