Tiaa Fsb increased its holdings in shares of Edison International (NYSE:EIX) by 16.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,606 shares of the utilities provider’s stock after buying an additional 2,095 shares during the period. Tiaa Fsb’s holdings in Edison International were worth $989,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Kiley Juergens Wealth Management LLC purchased a new position in Edison International in the second quarter worth about $110,000. Gradient Investments LLC raised its holdings in Edison International by 94.2% in the third quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after buying an additional 989 shares during the last quarter. CSat Investment Advisory L.P. purchased a new position in Edison International in the second quarter worth about $182,000. CAPROCK Group Inc. purchased a new position in Edison International in the third quarter worth about $204,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Edison International by 416.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,045 shares of the utilities provider’s stock worth $177,000 after buying an additional 2,455 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors and hedge funds.
EIX opened at $69.86 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a market cap of $22.91 billion, a PE ratio of 16.86, a P/E/G ratio of 2.90 and a beta of 0.08.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Edison International had a net margin of 4.34% and a return on equity of 10.27%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, research analysts predict that Edison International will post 4.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.605 per share. The ex-dividend date is Thursday, September 27th. This represents a $2.42 annualized dividend and a dividend yield of 3.46%. Edison International’s payout ratio is 53.78%.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Argus lifted their target price on shares of Edison International to $80.00 and gave the stock a “buy” rating in a report on Thursday, October 11th. They noted that the move was a valuation call. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $72.00 to $75.00 in a report on Thursday, October 11th. Citigroup set a $72.00 price objective on shares of Edison International and gave the company a “hold” rating in a report on Tuesday, October 9th. Finally, ValuEngine raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.92.
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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