Traders Sell Edison International (EIX) on Strength (EIX)
Traders sold shares of Edison International (NYSE:EIX) on strength during trading on Wednesday. $29.60 million flowed into the stock on the tick-up and $47.04 million flowed out of the stock on the tick-down, for a money net flow of $17.44 million out of the stock. Of all equities tracked, Edison International had the 0th highest net out-flow for the day. Edison International traded up $0.91 for the day and closed at $74.24
A number of research firms have recently commented on EIX. BMO Capital Markets reissued a “buy” rating on shares of Edison International in a research note on Monday, May 2nd. Jefferies Group upped their price target on Edison International from $66.00 to $72.00 and gave the company a “hold” rating in a report on Tuesday, May 3rd. Argus upped their price target on Edison International from $76.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Finally, Deutsche Bank AG upped their price target on Edison International from $76.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 29th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $77.29.
The stock has a 50 day moving average of $76.54 and a 200-day moving average of $71.54. The firm has a market capitalization of $24.19 billion and a PE ratio of 27.53.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The company earned $2.78 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the business posted $1.16 EPS. Edison International’s revenue was down 4.5% compared to the same quarter last year. On average, equities analysts forecast that Edison International will post $3.90 EPS for the current fiscal year.
In related news, SVP Gaddi H. Vasquez sold 6,842 shares of the business’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $73.84, for a total transaction of $505,213.28. Following the transaction, the senior vice president now directly owns 6,619 shares in the company, valued at approximately $488,746.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of hedge funds and institutional investors have made changes to their positions in EIX. BlackRock Advisors LLC increased its position in shares of Edison International by 43.1% in the fourth quarter. BlackRock Advisors LLC now owns 466,245 shares of the company’s stock valued at $27,607,000 after buying an additional 140,404 shares during the period. Calvert Investment Management Inc. increased its position in shares of Edison International by 271.0% in the fourth quarter. Calvert Investment Management Inc. now owns 46,000 shares of the company’s stock valued at $2,724,000 after buying an additional 33,600 shares during the period. Trexquant Investment LP acquired a new position in shares of Edison International during the fourth quarter valued at $1,255,000. BNP Paribas Arbitrage SA increased its position in shares of Edison International by 18.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 79,960 shares of the company’s stock valued at $4,734,000 after buying an additional 12,307 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Edison International by 9.9% in the fourth quarter. Victory Capital Management Inc. now owns 70,430 shares of the company’s stock valued at $4,170,000 after buying an additional 6,368 shares during the period.
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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