US Bancorp DE Has $5.62 Million Holdings in Edison International (EIX)
US Bancorp DE cut its holdings in Edison International (NYSE:EIX) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 82,987 shares of the utilities provider’s stock after selling 1,100 shares during the period. US Bancorp DE’s holdings in Edison International were worth $5,617,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Reilly Financial Advisors LLC increased its stake in shares of Edison International by 18.6% in the third quarter. Reilly Financial Advisors LLC now owns 4,567 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 717 shares during the period. Strs Ohio increased its stake in shares of Edison International by 1.4% in the third quarter. Strs Ohio now owns 59,183 shares of the utilities provider’s stock worth $4,005,000 after purchasing an additional 832 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Edison International by 3.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 24,087 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 834 shares during the period. Murphy Capital Management Inc. increased its stake in shares of Edison International by 13.9% in the second quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 900 shares during the period. Finally, Gradient Investments LLC increased its stake in shares of Edison International by 94.2% in the third quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 989 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.
A number of equities analysts have recently commented on EIX shares. Goldman Sachs Group set a $69.00 price objective on Edison International and gave the stock a “hold” rating in a research note on Friday, September 14th. ValuEngine upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Wells Fargo & Co lifted their price objective on Edison International from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Morgan Stanley boosted their price target on Edison International from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. Finally, Argus boosted their price target on Edison International to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $73.92.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.25. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.42 annualized dividend and a yield of 3.97%. Edison International’s dividend payout ratio is 53.78%.
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About Edison International
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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