Axa Raises Position in Edison International (EIX)

Axa boosted its holdings in Edison International (NYSE:EIX) by 783.4% in the third quarter, Holdings Channel reports. The institutional investor owned 278,980 shares of the utilities provider’s stock after buying an additional 247,400 shares during the period. Axa’s holdings in Edison International were worth $18,881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Reilly Financial Advisors LLC raised its holdings in Edison International by 18.6% during the 3rd quarter. Reilly Financial Advisors LLC now owns 4,567 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 717 shares during the last quarter. Strs Ohio raised its holdings in Edison International by 1.4% during the 3rd quarter. Strs Ohio now owns 59,183 shares of the utilities provider’s stock worth $4,005,000 after purchasing an additional 832 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Edison International by 3.6% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 24,087 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 834 shares during the last quarter. Murphy Capital Management Inc. raised its holdings in Edison International by 13.9% during the 2nd quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 900 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in Edison International by 94.2% during the 3rd quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 989 shares during the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.

Several research firms have issued reports on EIX. Morgan Stanley raised their price target on shares of Edison International from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, September 11th. Wells Fargo & Co raised their price target on shares of Edison International from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. Goldman Sachs Group set a $69.00 price target on shares of Edison International and gave the stock a “hold” rating in a report on Friday, September 14th. Argus raised their price target on shares of Edison International from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $70.54.

NYSE:EIX opened at $53.25 on Friday. The firm has a market capitalization of $17.46 billion, a PE ratio of 11.83, a P/E/G ratio of 2.18 and a beta of 0.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.66. Edison International has a twelve month low of $45.50 and a twelve month high of $81.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.25. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. Edison International’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. Analysts forecast that Edison International will post 4.14 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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