Tudor Investment Corp ET AL decreased its holdings in shares of Edison International (NYSE:EIX) by 49.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,130 shares of the utilities provider’s stock after selling 4,947 shares during the period. Tudor Investment Corp ET AL’s holdings in Edison International were worth $401,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in EIX. Waldron LP bought a new stake in Edison International during the first quarter valued at $211,000. Van ECK Associates Corp increased its stake in Edison International by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,817 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 430 shares during the last quarter. Legal & General Group Plc increased its stake in Edison International by 5.4% during the first quarter. Legal & General Group Plc now owns 2,438,508 shares of the utilities provider’s stock valued at $194,132,000 after purchasing an additional 126,009 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in Edison International by 25.7% during the first quarter. Rothschild Asset Management Inc. now owns 569,812 shares of the utilities provider’s stock valued at $45,363,000 after purchasing an additional 116,372 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in Edison International by 16.7% during the first quarter. Sentry Investment Management LLC now owns 16,504 shares of the utilities provider’s stock valued at $1,314,000 after purchasing an additional 2,361 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Edison International (EIX) opened at 79.66 on Friday. The stock’s 50 day moving average is $79.36 and its 200 day moving average is $79.52. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 18.84 and a beta of 0.22. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts predict that Edison International will post $4.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.72%. Edison International’s dividend payout ratio is currently 50.82%.
Several research firms have weighed in on EIX. BidaskClub upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Citigroup Inc. reiterated a “neutral” rating and set a $84.00 target price (down previously from $85.00) on shares of Edison International in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Finally, Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Thursday, July 6th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.75.
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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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