Hsbc Holdings PLC raised its holdings in Edison International (NYSE:EIX) by 24.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,304 shares of the utilities provider’s stock after buying an additional 62,749 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Edison International worth $21,407,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in Edison International by 3.2% in the third quarter. BlackRock Inc. now owns 28,543,129 shares of the utilities provider’s stock valued at $1,931,800,000 after buying an additional 881,794 shares during the period. Macquarie Group Ltd. lifted its stake in Edison International by 15.3% in the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock valued at $702,028,000 after buying an additional 1,475,620 shares during the period. Pzena Investment Management LLC lifted its stake in Edison International by 14.2% in the third quarter. Pzena Investment Management LLC now owns 8,949,790 shares of the utilities provider’s stock valued at $605,722,000 after buying an additional 1,113,386 shares during the period. Boston Partners lifted its stake in Edison International by 3.0% in the second quarter. Boston Partners now owns 5,075,296 shares of the utilities provider’s stock valued at $321,114,000 after buying an additional 145,785 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Edison International by 13.2% during the second quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock worth $292,702,000 after purchasing an additional 539,897 shares during the period. 81.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on EIX shares. Morgan Stanley reaffirmed a “hold” rating on shares of Edison International in a research report on Monday, August 27th. Goldman Sachs Group set a $69.00 target price on Edison International and gave the stock a “hold” rating in a research report on Friday, September 14th. Wells Fargo & Co upped their target price on Edison International from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Citigroup set a $72.00 target price on Edison International and gave the stock a “hold” rating in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Edison International has a consensus rating of “Hold” and an average price target of $70.54.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.25. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. Edison International’s revenue was up 16.3% compared to the same quarter last year. Equities analysts predict that Edison International will post 4.14 EPS for the current fiscal year.
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Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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