Reaves W H & Co. Inc. Sells 49,238 Shares of Edison International (EIX)

Reaves W H & Co. Inc. reduced its stake in Edison International (NYSE:EIX) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,457 shares of the utilities provider’s stock after selling 49,238 shares during the period. Edison International makes up 1.4% of Reaves W H & Co. Inc.’s portfolio, making the stock its 29th biggest position. Reaves W H & Co. Inc.’s holdings in Edison International were worth $39,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EIX. LS Investment Advisors LLC boosted its position in shares of Edison International by 3.2% during the fourth quarter. LS Investment Advisors LLC now owns 29,134 shares of the utilities provider’s stock valued at $1,842,000 after buying an additional 917 shares during the last quarter. Advisor Partners LLC boosted its position in shares of Edison International by 15.2% during the first quarter. Advisor Partners LLC now owns 6,963 shares of the utilities provider’s stock valued at $443,000 after buying an additional 917 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Edison International by 3.3% during the fourth quarter. New Mexico Educational Retirement Board now owns 31,302 shares of the utilities provider’s stock valued at $1,980,000 after buying an additional 1,000 shares during the last quarter. MUFG Americas Holdings Corp boosted its position in shares of Edison International by 1.4% during the first quarter. MUFG Americas Holdings Corp now owns 72,813 shares of the utilities provider’s stock valued at $4,636,000 after buying an additional 1,026 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Edison International by 1.3% during the fourth quarter. US Bancorp DE now owns 86,215 shares of the utilities provider’s stock valued at $5,452,000 after buying an additional 1,119 shares during the last quarter. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

Edison International opened at $62.29 on Friday, MarketBeat Ratings reports. Edison International has a fifty-two week low of $57.63 and a fifty-two week high of $83.38. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.60 and a beta of 0.12.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.11). Edison International had a net margin of 4.38% and a return on equity of 10.22%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. equities analysts predict that Edison International will post 4.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Wednesday, March 28th. Edison International’s dividend payout ratio is 53.78%.

Several equities research analysts recently commented on EIX shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of Edison International in a research report on Wednesday, March 14th. SunTrust Banks set a $71.00 price objective on Edison International and gave the company a “buy” rating in a research report on Monday, February 12th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. TheStreet cut Edison International from a “b-” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $76.92.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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).

Institutional Ownership by Quarter 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.




Leave a Reply