Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Edison International (NYSE:EIX) by 29.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,168 shares of the utilities provider’s stock after buying an additional 5,491 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Edison International were worth $1,924,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Zurich Insurance Group Ltd FI boosted its stake in shares of Edison International by 95.9% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 74,684 shares of the utilities provider’s stock worth $5,377,000 after buying an additional 36,555 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Edison International by 3.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 109,930 shares of the utilities provider’s stock worth $7,942,000 after buying an additional 3,720 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Edison International by 0.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 289,248 shares of the utilities provider’s stock worth $23,027,000 after buying an additional 2,501 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Edison International by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,347 shares of the utilities provider’s stock worth $41,277,000 after buying an additional 12,022 shares during the last quarter. Finally, Brookfield Asset Management Inc. boosted its stake in shares of Edison International by 17.2% in the fourth quarter. Brookfield Asset Management Inc. now owns 873,097 shares of the utilities provider’s stock worth $62,854,000 after buying an additional 128,100 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
Edison International (NYSE:EIX) traded up 0.31% during midday trading on Friday, hitting $78.20. The stock had a trading volume of 2,151,758 shares. The firm has a 50-day moving average of $79.75 and a 200-day moving average of $75.09. Edison International has a 12-month low of $67.44 and a 12-month high of $81.33. The company has a market cap of $25.48 billion, a PE ratio of 18.52 and a beta of 0.15.
Edison International (NYSE:EIX) last posted its quarterly earnings data 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. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the business earned $0.82 EPS. Edison International’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts forecast that Edison International will post $4.20 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a $0.5425 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.78%. Edison International’s dividend payout ratio (DPR) is presently 80.67%.
EIX has been the subject of a number of analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Friday, February 24th. Barclays PLC reduced their price target on Edison International from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 8th. Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Evercore ISI upgraded Edison International from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Thursday, January 19th. Finally, Mizuho reiterated a “buy” rating and set a $91.50 target price on shares of Edison International in a research report on Wednesday, April 19th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.41.
In other news, Director Vanessa C. L. Chang sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $79.03, for a total value of $197,575.00. Following the completion of the sale, the director now directly owns 2,500 shares in the company, valued at $197,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock valued at $2,542,995 over the last 90 days. Company insiders own 1.51% of the company’s stock.
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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