OxFORD Asset Management LLP lifted its stake in shares of Edison International (NYSE:EIX) by 375.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,413 shares of the utilities provider’s stock after purchasing an additional 9,804 shares during the period. OxFORD Asset Management LLP’s holdings in Edison International were worth $963,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Amica Retiree Medical Trust bought a new position in Edison International during the 3rd quarter worth $138,000. Sun Life Financial INC increased its position in Edison International by 16,935.7% during the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after buying an additional 2,371 shares during the period. TCI Wealth Advisors Inc. increased its position in Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after buying an additional 1,533 shares during the period. Shelton Capital Management bought a new position in Edison International during the 2nd quarter worth $206,000. Finally, Great Lakes Advisors LLC bought a new position in Edison International during the 2nd quarter worth $207,000. Institutional investors own 81.14% of the company’s stock.
Several research analysts have weighed in on the company. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Royal Bank of Canada reissued a “buy” rating and set a $84.00 target price on shares of Edison International in a report on Sunday, September 17th. Bank of America reissued a “buy” rating and set a $86.00 target price on shares of Edison International in a report on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and set a $89.00 target price on shares of Edison International in a report on Monday, October 30th. Finally, Citigroup increased their target price on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $80.67.
Shares of Edison International (EIX) traded down $0.90 on Friday, hitting $61.42. The stock had a trading volume of 3,170,664 shares, compared to its average volume of 4,720,000. Edison International has a 52 week low of $61.25 and a 52 week high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $20,010.00, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 2.29 and a beta of 0.24.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period last year, the company earned $1.29 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. research analysts predict that Edison International will post 4.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is 55.25%.
In other news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.
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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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