Zacks Investment Management Purchases 684 Shares of Edison International (EIX)
Zacks Investment Management raised its position in Edison International (NYSE:EIX) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 18,745 shares of the utilities provider’s stock after buying an additional 684 shares during the period. Zacks Investment Management’s holdings in Edison International were worth $1,466,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted its position in shares of Edison International by 39.2% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 152,675 shares of the utilities provider’s stock worth $11,938,000 after purchasing an additional 42,981 shares during the last quarter. Veritable L.P. boosted its position in shares of Edison International by 0.8% in the 2nd quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after purchasing an additional 84 shares during the last quarter. OxFORD Asset Management LLP bought a new position in shares of Edison International in the 2nd quarter worth $204,000. Dimensional Fund Advisors LP boosted its position in shares of Edison International by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 589,722 shares of the utilities provider’s stock worth $46,110,000 after purchasing an additional 5,216 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in shares of Edison International by 312.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 12,191 shares of the utilities provider’s stock worth $953,000 after purchasing an additional 9,233 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Shares of Edison International (NYSE:EIX) opened at 77.17 on Friday. The company’s 50-day moving average price is $80.05 and its 200 day moving average price is $79.66. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The firm has a market cap of $25.14 billion, a P/E ratio of 18.25 and a beta of 0.24.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Zacks’ 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 business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, equities analysts anticipate that Edison International will post $4.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.81%. Edison International’s dividend payout ratio (DPR) is currently 50.82%.
Several research firms have recently issued reports on EIX. Jefferies Group LLC upgraded Edison International from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley raised their price target 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. BMO Capital Markets restated a “buy” rating and issued a $85.00 price target on shares of Edison International in a research report on Thursday, August 17th. Mizuho restated a “buy” rating and issued a $87.00 price target (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, Citigroup Inc. restated a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a research report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $84.17.
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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