Public Employees Retirement System of Ohio lowered its holdings in Edison International (NYSE:EIX) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,812 shares of the utilities provider’s stock after selling 2,001 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Edison International were worth $10,712,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Capital International Investors purchased a new stake in Edison International in the third quarter valued at $95,783,000. Prudential Financial Inc. raised its position in Edison International by 18.4% in the second quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after purchasing an additional 85,968 shares during the period. JPMorgan Chase & Co. raised its position in Edison International by 3.6% in the second 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 period. Principal Financial Group Inc. raised its position in Edison International by 1.9% in the second quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after purchasing an additional 12,086 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Edison International in the third quarter valued at $256,000. Institutional investors own 81.14% of the company’s stock.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.
A number of research firms have commented on EIX. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Royal Bank of Canada restated a “buy” rating and issued a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Bank of America reiterated a “buy” rating and issued a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. SunTrust Banks reiterated a “buy” rating and issued a $89.00 price objective on shares of Edison International in a report on Monday, October 30th. Finally, Citigroup boosted their price objective on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Edison International currently has an average rating of “Hold” and an average price target of $81.64.
Edison International (NYSE EIX) traded down $0.52 on Thursday, reaching $62.32. The company had a trading volume of 2,945,323 shares, compared to its average volume of 3,595,803. Edison International has a 1 year low of $62.00 and a 1 year high of $83.38. The firm has a market cap of $20,470.00, a PE ratio of 14.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.24. 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 released its earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the firm posted $1.29 EPS. Edison International’s revenue for the quarter was down 2.5% on a year-over-year basis. equities research analysts anticipate that Edison International will post 4.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 3.88%. This is a boost from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, December 28th. Edison International’s payout ratio is presently 55.25%.
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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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