BlueCrest Capital Management Ltd lowered its holdings in Edison International (NYSE:EIX) by 93.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,616 shares of the utilities provider’s stock after selling 381,267 shares during the period. BlueCrest Capital Management Ltd’s holdings in Edison International were worth $2,081,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Edison International by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after acquiring an additional 487,713 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Edison International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after acquiring an additional 270,625 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after acquiring an additional 526,261 shares in the last quarter. Boston Partners raised its holdings in shares of Edison International by 4.2% in the 2nd quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after acquiring an additional 151,153 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Edison International by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 3,180,637 shares of the utilities provider’s stock valued at $252,849,000 after acquiring an additional 262,165 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on EIX shares. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Thursday, July 6th. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. Morgan Stanley raised their price target on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Finally, Mizuho reaffirmed a “buy” rating and issued a $87.00 price target (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Edison International currently has an average rating of “Hold” and an average target price of $84.75.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the sale, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.
Edison International (NYSE:EIX) opened at 78.69 on Wednesday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The stock’s 50 day moving average price is $79.43 and its 200 day moving average price is $79.53. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 18.61 and a beta of 0.22.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Edison International will post $4.23 earnings per share for the current fiscal year.
The business also recently disclosed 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 of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.76%. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
Edison International 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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