Profund Advisors LLC decreased its holdings in Edison International (NYSE:EIX) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,912 shares of the utilities provider’s stock after selling 3,164 shares during the quarter. Profund Advisors LLC’s holdings in Edison International were worth $1,828,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of EIX. Maple Brown Abbott Ltd bought a new stake in shares of Edison International in the fourth quarter worth $1,192,752,000. BlackRock Inc. grew its stake in shares of Edison International by 7.4% in the fourth quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock worth $1,691,424,000 after purchasing an additional 1,832,822 shares during the last quarter. USS Investment Management Ltd bought a new stake in shares of Edison International in the third quarter worth $137,776,000. Old Mutual Global Investors UK Ltd. grew its stake in shares of Edison International by 170.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,143,455 shares of the utilities provider’s stock worth $135,552,000 after purchasing an additional 1,351,336 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Edison International in the third quarter worth $95,783,000. 81.21% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on EIX. SunTrust Banks reissued a “buy” rating and issued a $85.00 price objective on shares of Edison International in a research note on Thursday, December 7th. Mizuho cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. Goldman Sachs Group set a $70.00 price objective on shares of Edison International and gave the stock a “hold” rating in a research note on Friday, December 15th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $69.00 target price (down previously from $72.00) on shares of Edison International in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $76.93.
Edison International (NYSE:EIX) opened at $59.38 on Friday. Edison International has a fifty-two week low of $57.63 and a fifty-two week high of $83.38. The firm has a market cap of $19,346.66, a PE ratio of 34.52, a PEG ratio of 2.42 and a beta of 0.20. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.84.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. Edison International had a net margin of 5.59% and a return on equity of 10.86%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. sell-side analysts forecast that Edison International will post 4.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.605 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.42 annualized dividend and a dividend yield of 4.08%. Edison International’s dividend payout ratio is currently 140.70%.
COPYRIGHT VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/03/11/profund-advisors-llc-has-1-83-million-position-in-edison-international-eix.html.
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.
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.