BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $21.78 Million Stake in Edison International (EIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Edison International (NYSE:EIX) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,202 shares of the utilities provider’s stock after acquiring an additional 2,307 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of Edison International worth $21,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in 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 buying an additional 487,713 shares in the last quarter. BlackRock Inc. increased its holdings in 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 purchasing an additional 270,625 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 526,261 shares during the last quarter. Boston Partners increased its holdings in 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 purchasing an additional 151,153 shares during the last quarter. Finally, FIL Ltd increased its holdings in Edison International by 12.1% in the 2nd quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after purchasing an additional 301,131 shares during the last quarter. Institutional investors own 81.36% of the company’s stock.

Shares of Edison International (NYSE EIX) opened at $68.72 on Thursday. The company has a market cap of $22,806.78, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. Edison International has a 52-week low of $67.80 and a 52-week high of $83.38.

Edison International (NYSE:EIX) last released its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. sell-side analysts anticipate that Edison International will post 4.33 earnings per share for the current fiscal year.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

Several equities analysts have commented on EIX shares. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. SunTrust Banks reiterated a “buy” rating and set a $89.00 target price on shares of Edison International in a research note on Monday, October 30th. Jefferies Group raised shares of Edison International from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Mizuho cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, BMO Capital Markets reissued a “buy” rating and issued a $85.00 price target on shares of Edison International in a research report on Thursday, August 17th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $84.85.

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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.

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

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