Cetera Investment Advisers acquired a new stake in Edison International (NYSE:EIX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,417 shares of the utilities provider’s stock, valued at approximately $425,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sun Life Financial INC grew its stake in shares of Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after buying an additional 2,371 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares in the last quarter. OxFORD Asset Management LLP bought a new position in shares of Edison International in the second quarter valued at $204,000. Shelton Capital Management bought a new position in shares of Edison International in the second quarter valued at $206,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Edison International in the second quarter valued at $207,000. Institutional investors own 81.78% of the company’s stock.
A number of equities analysts have commented on the stock. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Tuesday. Citigroup Inc. lifted their price objective on shares of Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. Mizuho reaffirmed a “buy” rating and set a $86.00 price objective on shares of Edison International in a research report on Monday, October 9th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $89.00 price objective on shares of Edison International in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $84.00 price objective on shares of Edison International in a research report on Sunday, September 17th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and a consensus target price of $85.08.
Edison International (EIX) traded up 0.94% on Friday, reaching $79.47. The company had a trading volume of 966,804 shares. The stock’s 50-day moving average price is $78.99 and its 200-day moving average price is $79.43. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The stock has a market capitalization of $25.89 billion, a P/E ratio of 18.79 and a beta of 0.22.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Edison International will post $4.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.5425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.73%. Edison International’s dividend payout ratio is currently 50.82%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now 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 can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
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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.
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