Itau Unibanco Holding S.A. increased its stake in shares of Edison International (NYSE:EIX) by 76.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,889 shares of the utilities provider’s stock after buying an additional 3,409 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Edison International were worth $499,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Amica Retiree Medical Trust acquired a new stake in Edison International during the third quarter worth approximately $138,000. Cerebellum GP LLC acquired a new stake in Edison International during the fourth quarter worth approximately $116,000. First Command Financial Services Inc. acquired a new stake in Edison International during the fourth quarter worth approximately $154,000. OxFORD Asset Management LLP acquired a new stake in Edison International during the second quarter worth approximately $204,000. Finally, TCI Wealth Advisors Inc. grew its position in Edison International by 139.7% during the third 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 in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target on Edison International from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 13th. SunTrust Banks set a $71.00 target price on Edison International and gave the stock a “buy” rating in a research note on Monday, February 12th. UBS Group started coverage on Edison International in a research note on Friday, February 2nd. They set a “neutral” rating and a $67.00 target price for the company. ValuEngine cut Edison International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Citigroup restated a “hold” rating and set a $66.00 target price on shares of Edison International in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.21.
Shares of Edison International (EIX) opened at $60.31 on Wednesday. The firm has a market capitalization of $19,890.77, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.25 and a beta of 0.17. Edison International has a 1-year low of $57.63 and a 1-year 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 4.01%. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, December 28th. Edison International’s dividend payout ratio is presently 54.63%.
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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.
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