Summit Trail Advisors LLC raised its holdings in Edison International (NYSE:EIX) by 15,304.3% during the first quarter, HoldingsChannel.com reports. The firm owned 176,687 shares of the utilities provider’s stock after purchasing an additional 175,540 shares during the period. Summit Trail Advisors LLC’s holdings in Edison International were worth $177,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of EIX. Boston Partners raised its position in Edison International by 361.8% in the first quarter. Boston Partners now owns 4,929,511 shares of the utilities provider’s stock valued at $313,813,000 after purchasing an additional 3,862,042 shares during the period. Pzena Investment Management LLC raised its position in Edison International by 206.3% in the first quarter. Pzena Investment Management LLC now owns 5,475,064 shares of the utilities provider’s stock valued at $348,543,000 after purchasing an additional 3,687,476 shares during the period. Zimmer Partners LP raised its position in Edison International by 211.9% in the fourth quarter. Zimmer Partners LP now owns 1,871,200 shares of the utilities provider’s stock valued at $118,335,000 after purchasing an additional 1,271,200 shares during the period. BlackRock Inc. raised its position in Edison International by 3.5% in the first quarter. BlackRock Inc. now owns 27,694,117 shares of the utilities provider’s stock valued at $1,763,006,000 after purchasing an additional 947,981 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Edison International by 4,900.5% in the first quarter. Thrivent Financial for Lutherans now owns 705,316 shares of the utilities provider’s stock valued at $44,900,000 after purchasing an additional 691,211 shares during the period. Institutional investors own 82.06% of the company’s stock.
A number of equities research analysts have commented on the company. ValuEngine downgraded Edison International from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Royal Bank of Canada restated a “buy” rating and issued a $70.00 target price on shares of Edison International in a research report on Wednesday, March 14th. 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 research report on Thursday, March 8th. Finally, JPMorgan Chase & Co. lifted their target price on Edison International from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.36.
Shares of Edison International opened at $62.62 on Wednesday, according to Marketbeat. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $20.30 billion, a PE ratio of 13.92, a PEG ratio of 2.65 and a beta of 0.14.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $2.49 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts anticipate that Edison International will post 4.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Monday, July 2nd will be paid a dividend of $0.605 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $2.42 annualized dividend and a yield of 3.86%. Edison International’s payout ratio is 53.78%.
About Edison International
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).
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.