Edison International (EIX) Trading Down 1.5%
Edison International (NYSE:EIX) shares were down 1.5% during trading on Tuesday . The stock traded as low as $76.73 and last traded at $76.81, with a volume of 1,178,363 shares trading hands. The stock had previously closed at $77.99.
A number of equities analysts have recently weighed in on EIX shares. Argus increased their price target on Edison International from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, April 20th. BMO Capital Markets reiterated a “buy” rating on shares of Edison International in a report on Monday, May 2nd. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, June 7th. Jefferies Group increased their price target on Edison International from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Tuesday, May 3rd. Finally, Vetr upgraded Edison International from a “sell” rating to a “hold” rating and set a $72.50 price target for the company in a report on Monday, April 18th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Edison International presently has an average rating of “Hold” and a consensus price target of $74.13.
The stock has a 50-day moving average price of $74.48 and a 200-day moving average price of $68.71. The stock has a market cap of $25.03 billion and a PE ratio of 25.49.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by $0.06. The business earned $2.44 billion during the quarter, compared to analysts’ expectations of $2.85 billion. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. Analysts expect that Edison International will post $3.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Thursday, June 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Tuesday, June 28th.
In other news, SVP Gaddi H. Vasquez sold 6,842 shares of the company’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $73.84, for a total value of $505,213.28. Following the completion of the sale, the senior vice president now owns 6,619 shares of the company’s stock, valued at $488,746.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ronald L. Litzinger sold 12,677 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $71.28, for a total value of $903,616.56. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Gulf International Bank UK Ltd increased its stake in shares of Edison International by 2.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 98,427 shares of the company’s stock valued at $5,828,000 after buying an additional 2,780 shares during the last quarter. Reaves W H & Co. Inc. increased its stake in shares of Edison International by 30.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 735,862 shares of the company’s stock valued at $43,570,000 after buying an additional 170,699 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Edison International by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,287 shares of the company’s stock valued at $1,260,000 after buying an additional 354 shares during the last quarter. BOKF NA increased its stake in shares of Edison International by 6.9% in the fourth quarter. BOKF NA now owns 52,497 shares of the company’s stock valued at $3,108,000 after buying an additional 3,385 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Edison International during the fourth quarter valued at $1,803,000.
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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