Rational Advisors LLC trimmed its holdings in shares of Edison International (NYSE:EIX) by 79.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 569 shares of the utilities provider’s stock after selling 2,221 shares during the period. Rational Advisors LLC’s holdings in Edison International were worth $43,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its holdings in Edison International by 2.1% during the second quarter. Crossmark Global Holdings Inc. now owns 25,630 shares of the utilities provider’s stock worth $1,728,000 after purchasing an additional 524 shares during the last quarter. Kwmg LLC lifted its stake in Edison International by 5.5% in the second quarter. Kwmg LLC now owns 36,261 shares of the utilities provider’s stock valued at $2,444,000 after acquiring an additional 1,886 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Edison International by 6.0% in the second quarter. CENTRAL TRUST Co now owns 2,772 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 156 shares during the last quarter. Bennicas & Associates Inc. acquired a new stake in Edison International in the second quarter valued at $209,000. Finally, Raymond James Trust N.A. lifted its stake in Edison International by 16.4% in the second quarter. Raymond James Trust N.A. now owns 4,148 shares of the utilities provider’s stock valued at $280,000 after acquiring an additional 584 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.
EIX has been the subject of a number of recent analyst reports. Wells Fargo & Co set a $73.00 price target on shares of Edison International and gave the company a “hold” rating in a research note on Friday, July 26th. Citigroup reiterated a “buy” rating and issued a $81.00 price target (up previously from $78.00) on shares of Edison International in a research note on Wednesday, September 18th. TheStreet raised shares of Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. SunTrust Banks set a $83.00 price objective on shares of Edison International and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, ValuEngine lowered shares of Edison International from a “sell” rating to a “strong sell” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Edison International has a consensus rating of “Buy” and a consensus price target of $75.00.
Shares of EIX opened at $70.10 on Friday. The firm has a market capitalization of $24.99 billion, a PE ratio of 16.89, a PEG ratio of 2.79 and a beta of 0.05. The company’s 50-day moving average is $70.07 and its 200-day moving average is $68.02. Edison International has a fifty-two week low of $46.65 and a fifty-two week high of $76.45. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.78 and a quick ratio of 0.72.
Edison International (NYSE:EIX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the company earned $1.57 earnings per share. Analysts predict that Edison International will post 4.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.613 per share. This represents a $2.45 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date was Friday, September 27th. Edison International’s dividend payout ratio (DPR) is currently 59.04%.
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.
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