Stifel Financial Corp reduced its position in Edison International (NYSE:EIX) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,234 shares of the utilities provider’s stock after selling 9,339 shares during the period. Stifel Financial Corp owned approximately 0.11% of Edison International worth $28,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. USS Investment Management Ltd bought a new position in Edison International in the 3rd quarter worth $137,776,000. Janus Henderson Group PLC raised its holdings in Edison International by 2,522.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock worth $96,552,000 after purchasing an additional 1,187,754 shares during the period. BT Investment Management Ltd bought a new stake in Edison International during the second quarter valued at about $55,640,000. Wells Fargo & Company MN raised its holdings in Edison International by 30.3% during the third quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after acquiring an additional 598,402 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after acquiring an additional 526,261 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.
A number of equities research analysts have commented on the company. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks reissued a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 30th. Bank of America reissued a “buy” rating and set a $86.00 price target on shares of Edison International in a report on Tuesday, October 24th. Citigroup raised their price target on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Finally, Mizuho reissued a “buy” rating and set a $86.00 price target on shares of Edison International in a report on Monday, October 9th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $85.08.
In other news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.
Shares of Edison International (EIX) traded down $0.50 during mid-day trading on Tuesday, hitting $80.26. The stock had a trading volume of 1,608,100 shares, compared to its average volume of 1,674,810. Edison International has a 1 year low of $68.01 and a 1 year high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $26,312.51, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.93 and a beta of 0.23.
Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. research analysts forecast that Edison International will post 4.33 EPS for the current fiscal year.
About Edison International
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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