D.A. Davidson & CO. raised its stake in Edison International (NYSE:EIX) by 21.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,996 shares of the utilities provider’s stock after buying an additional 1,934 shares during the period. D.A. Davidson & CO.’s holdings in Edison International were worth $848,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Edison International by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock worth $2,139,568,000 after purchasing an additional 487,713 shares during the period. BlackRock Inc. lifted its holdings in shares of Edison International by 1.1% during the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock worth $1,928,152,000 after purchasing an additional 270,625 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after purchasing an additional 526,261 shares during the period. Boston Partners lifted its holdings in shares of Edison International by 4.2% during the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock worth $292,142,000 after purchasing an additional 151,153 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Edison International by 12.1% during the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock worth $218,073,000 after purchasing an additional 301,131 shares during the period. Hedge funds and other institutional investors own 80.14% of the company’s stock.
In related news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the transaction, the insider now 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 through this link. 0.41% of the stock is owned by company insiders.
EIX has been the topic of a number of recent research reports. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a report on Monday, October 30th. BidaskClub upgraded shares of Edison International from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $90.00 in a report on Friday, August 11th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and an average price target of $85.08.
Shares of Edison International (NYSE:EIX) traded up $0.40 during midday trading on Monday, reaching $80.55. 567,600 shares of the company were exchanged, compared to its average volume of 1,678,417. Edison International has a fifty-two week low of $67.73 and a fifty-two week high of $83.38. The company has a market capitalization of $26,244.08, a P/E ratio of 18.35, a PEG ratio of 2.92 and a beta of 0.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47.
Edison International (NYSE:EIX) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business 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 firm earned $1.29 earnings per share. Edison International’s quarterly revenue was down 2.5% on a year-over-year basis. analysts anticipate that Edison International will post 4.33 earnings per share for the current year.
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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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