Forsta AP Fonden lowered its stake in Edison International (NYSE:EIX) by 24.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,160 shares of the utilities provider’s stock after selling 28,601 shares during the quarter. Forsta AP Fonden’s holdings in Edison International were worth $6,958,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sun Life Financial INC raised its holdings in shares of Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,371 shares in the last quarter. TCI Wealth Advisors Inc. raised its holdings in shares of Edison International by 139.7% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 1,533 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Edison International in the 2nd quarter valued at about $204,000. Shelton Capital Management purchased a new stake in shares of Edison International in the 2nd quarter valued at about $206,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Several analysts have weighed in on the company. Citigroup Inc. reaffirmed a “neutral” rating and issued a $84.00 price target (down previously from $85.00) on shares of Edison International in a report on Monday, July 24th. BidaskClub raised Edison International from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating on shares of Edison International in a report on Thursday, August 17th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Edison International in a report on Thursday, August 17th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.08.
Shares of Edison International (NYSE:EIX) opened at $79.52 on Monday. The firm has a market capitalization of $25,908.50, a P/E ratio of 18.11, a PEG ratio of 2.88 and a beta of 0.24. Edison International has a 1 year low of $67.44 and a 1 year high of $82.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. equities research analysts anticipate that Edison International will post 4.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were given a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.73%. Edison International’s dividend payout ratio is currently 48.98%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,137,305.34. The sale was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company 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.
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