Edison International (EIX) Stake Held by Utah Retirement Systems

Utah Retirement Systems maintained its stake in Edison International (NYSE:EIX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,842 shares of the utilities provider’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Edison International were worth $4,605,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in Edison International during the fourth quarter valued at approximately $128,000. Jones Collombin Investment Counsel Inc raised its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares during the period. Van ECK Associates Corp raised its stake in Edison International by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,387 shares of the utilities provider’s stock valued at $172,000 after buying an additional 472 shares during the period. Wayne Hummer Investments L.L.C. purchased a new stake in Edison International during the first quarter valued at approximately $200,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in Edison International during the first quarter valued at approximately $201,000. Institutional investors own 82.44% of the company’s stock.

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

Shares of Edison International (NYSE EIX) traded up 1.00% on Thursday, reaching $81.69. The company had a trading volume of 728,031 shares. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 19.35 and a beta of 0.23. The firm has a 50-day moving average price of $79.88 and a 200 day moving average price of $76.51.

Edison International (NYSE:EIX) last released its earnings results on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.21. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Edison International had a net margin of 12.82% and a return on equity of 10.78%. Edison International’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS. Equities research analysts predict that Edison International will post $4.21 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.5425 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.17 annualized dividend and a yield of 2.68%. Edison International’s payout ratio is currently 50.94%.

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Several research firms have commented on EIX. Barclays PLC reiterated an “equal weight” rating and set a $84.00 price objective (up from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $84.00 price objective on shares of Edison International in a research note on Friday, February 24th. Wolfe Research lowered Edison International from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. BidaskClub lowered Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Mizuho reiterated a “buy” rating and set a $91.50 price objective on shares of Edison International in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $82.41.

In other Edison International news, insider Gaddi H. Vasquez sold 2,500 shares of Edison International stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the completion of the sale, the insider now directly owns 4,550 shares of the company’s stock, valued at approximately $369,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Insiders sold a total of 34,692 shares of company stock valued at $2,752,845 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “EIX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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