Magellan Asset Management Ltd reduced its stake in shares of Edison International (NYSE:EIX) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,435 shares of the utilities provider’s stock after selling 5,376 shares during the period. Magellan Asset Management Ltd’s holdings in Edison International were worth $13,624,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. FDx Advisors Inc. boosted its holdings in shares of Edison International by 16.5% during the 3rd quarter. FDx Advisors Inc. now owns 4,602 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 653 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Edison International by 1.9% during the 3rd quarter. Amalgamated Bank now owns 36,581 shares of the utilities provider’s stock worth $2,823,000 after purchasing an additional 679 shares during the last quarter. Norinchukin Bank The boosted its holdings in shares of Edison International by 2.9% during the 3rd quarter. Norinchukin Bank The now owns 25,949 shares of the utilities provider’s stock worth $2,002,000 after purchasing an additional 738 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Edison International by 10.6% during the 3rd quarter. Pacer Advisors Inc. now owns 7,728 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 741 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in shares of Edison International by 3.2% during the 4th quarter. LS Investment Advisors LLC now owns 29,134 shares of the utilities provider’s stock worth $1,842,000 after purchasing an additional 917 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.
Several research analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $69.00 target price (down from $72.00) on shares of Edison International in a report on Thursday, March 8th. SunTrust Banks restated a “buy” rating and set a $85.00 target price on shares of Edison International in a report on Thursday, December 7th. Goldman Sachs set a $70.00 target price on Edison International and gave the stock a “hold” rating in a report on Friday, December 15th. Zacks Investment Research cut Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada restated a “buy” rating and set a $74.00 target price on shares of Edison International in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Edison International currently has an average rating of “Hold” and a consensus price target of $76.64.
Edison International stock opened at $65.15 on Monday. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a market capitalization of $21,226.60, a P/E ratio of 37.88, a P/E/G ratio of 2.65 and a beta of 0.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.53 and a quick ratio of 0.49.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Edison International had a return on equity of 10.86% and a net margin of 5.59%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. equities analysts anticipate that Edison International will post 4.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, March 28th. Edison International’s dividend payout ratio is presently 140.70%.
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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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