Oregon Public Employees Retirement Fund reduced its position in Edison International (NYSE:EIX) by 59.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,195 shares of the utilities provider’s stock after selling 51,129 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Edison International were worth $2,639,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Sun Life Financial INC boosted its stake in shares of Edison International by 16,935.7% during the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Edison International during the 2nd quarter worth about $204,000. TCI Wealth Advisors Inc. boosted its stake in shares of Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,533 shares in the last quarter. Shelton Capital Management bought a new stake in shares of Edison International during the 2nd quarter worth about $206,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Edison International during the 2nd quarter worth about $207,000. 80.88% of the stock is currently owned by institutional investors.
Shares of Edison International (EIX) opened at $80.06 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The company has a market capitalization of $26,084.44, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.90 and a beta of 0.24.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. sell-side analysts expect that Edison International will post 4.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.71%. Edison International’s dividend payout ratio is currently 48.98%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at approximately $1,137,305.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on EIX. Royal Bank Of Canada reiterated a “buy” rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. Morgan Stanley upped their price target on Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Mizuho reiterated a “buy” rating and set a $87.00 price target (up previously from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Bank of America Corporation reiterated a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. Finally, BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.08.
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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