Fifth Third Bancorp Boosts Position in Edison International (EIX)

Fifth Third Bancorp raised its stake in shares of Edison International (NYSE:EIX) by 84.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,030 shares of the utilities provider’s stock after buying an additional 2,297 shares during the period. Fifth Third Bancorp’s holdings in Edison International were worth $400,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of EIX. West Oak Capital LLC increased its stake in shares of Edison International by 34.5% in the first quarter. West Oak Capital LLC now owns 2,992 shares of the utilities provider’s stock valued at $238,000 after buying an additional 767 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Edison International by 3.3% in the first quarter. Bank of Montreal Can now owns 544,727 shares of the utilities provider’s stock valued at $43,367,000 after buying an additional 17,237 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased 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 valued at $23,027,000 after buying an additional 2,501 shares in the last quarter. Brookfield Asset Management Inc. increased 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 valued at $62,854,000 after buying an additional 128,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased 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 valued at $41,277,000 after buying an additional 12,022 shares in the last quarter. 82.45% of the stock is currently owned by institutional investors.

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

Edison International (NYSE:EIX) traded down 0.177% during midday trading on Wednesday, reaching $81.635. The company had a trading volume of 144,347 shares. The firm has a market capitalization of $26.60 billion, a P/E ratio of 19.336 and a beta of 0.23. The stock’s 50 day moving average price is $80.11 and its 200-day moving average price is $76.92. Edison International has a one year low of $67.44 and a one year high of $82.82.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.21. Edison International had a net margin of 12.82% and a return on equity of 10.78%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the business earned $0.82 EPS. Edison International’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Edison International will post $4.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.65%. Edison International’s dividend payout ratio (DPR) is currently 50.94%.

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EIX has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed 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 reaffirmed an “equal weight” rating and issued a $84.00 price target (up from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Mizuho reaffirmed a “buy” rating and issued a $91.50 price target on shares of Edison International in a research report on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $83.00 price target (up from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. Finally, Deutsche Bank AG raised their price target on Edison International from $79.00 to $81.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and an average target price of $82.41.

In other Edison International news, Director W Brett White sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the transaction, the director now owns 2,500 shares in the company, valued at approximately $204,175. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gaddi H. Vasquez sold 3,657 shares of the stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $80.00, for a total transaction of $292,560.00. Following the transaction, the insider now owns 7,466 shares in the company, valued at approximately $597,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,692 shares of company stock worth $2,752,845. 0.41% of the stock is owned by company insiders.

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.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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