Profund Advisors LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing 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 quarter.
Other hedge funds have also bought and sold shares of the company. Amica Retiree Medical Trust purchased a new stake in Edison International during the third quarter worth approximately $138,000. Cerebellum GP LLC purchased a new stake in Edison International during the fourth quarter worth approximately $116,000. First Command Financial Services Inc. purchased a new stake in Edison International during the fourth quarter worth approximately $154,000. Advisory Services Network LLC lifted its stake in Edison International by 1,842.3% during the fourth quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT purchased a new stake in Edison International during the third quarter worth approximately $230,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.
EIX stock traded up $1.15 during trading on Friday, hitting $65.15. The stock had a trading volume of 8,659,537 shares, compared to its average volume of 3,332,833. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.53 and a quick ratio of 0.49. The stock has a market capitalization of $21,226.59, a PE ratio of 37.88, a PEG ratio of 2.65 and a beta of 0.20.
Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.17. Edison International had a return on equity of 10.86% and a net margin of 5.59%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. sell-side analysts expect that Edison International will post 4.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, March 28th. Edison International’s dividend payout ratio (DPR) is presently 140.70%.
Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $69.00 target price (down previously from $72.00) on shares of Edison International in a research note on Thursday, March 8th. SunTrust Banks reiterated a “buy” rating and issued a $85.00 price objective on shares of Edison International in a research note on Thursday, December 7th. Goldman Sachs set a $70.00 price objective on Edison International and gave the company a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research cut Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $74.00 price objective on shares of Edison International in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $76.64.
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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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