Unigestion Holding SA purchased a new position in Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,636 shares of the utilities provider’s stock, valued at approximately $727,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Edison International by 111.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,763,168 shares of the utilities provider’s stock worth $590,725,000 after acquiring an additional 4,625,141 shares in the last quarter. Boston Partners boosted its position in shares of Edison International by 1.0% during the second quarter. Boston Partners now owns 4,644,506 shares of the utilities provider’s stock valued at $313,199,000 after buying an additional 44,140 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Edison International by 87.2% during the second quarter. Bank of New York Mellon Corp now owns 4,420,925 shares of the utilities provider’s stock valued at $298,013,000 after buying an additional 2,059,350 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Edison International by 62.9% during the second quarter. Pictet Asset Management Ltd. now owns 2,504,575 shares of the utilities provider’s stock valued at $168,833,000 after buying an additional 966,848 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Edison International by 48.3% during the second quarter. Invesco Ltd. now owns 2,437,403 shares of the utilities provider’s stock valued at $164,304,000 after buying an additional 794,237 shares during the period. Institutional investors own 78.18% of the company’s stock.
Shares of Edison International stock traded up $0.61 on Friday, hitting $66.30. 1,627,611 shares of the company traded hands, compared to its average volume of 2,595,215. The stock’s 50 day moving average price is $70.77 and its 200-day moving average price is $67.89. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.11. Edison International has a 52 week low of $45.50 and a 52 week high of $76.45. The company has a market cap of $23.72 billion, a PE ratio of 15.98, a PEG ratio of 2.65 and a beta of 0.05.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.03). Edison International had a negative net margin of 1.60% and a positive return on equity of 11.98%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the firm posted $1.57 EPS. As a group, research analysts anticipate that Edison International will post 4.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.613 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from Edison International’s previous quarterly dividend of $0.61. Edison International’s payout ratio is currently 59.04%.
Several research analysts have issued reports on EIX shares. Mizuho dropped their target price on Edison International from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Citigroup restated a “buy” rating and set a $81.00 target price (up previously from $78.00) on shares of Edison International in a research report on Wednesday, September 18th. Morgan Stanley boosted their target price on Edison International from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, August 16th. TheStreet upgraded Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co set a $73.00 target price on Edison International and gave the company a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Edison International currently has a consensus rating of “Hold” and an average target price of $75.00.
Edison International Company 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.
Featured Story: Google Finance
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.