Baystate Wealth Management LLC Continues to Hold Stake in Edison International (EIX)
Baystate Wealth Management LLC continued to hold its position in shares of Edison International (NYSE:EIX) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,092 shares of the utilities provider’s stock at the end of the second quarter. Baystate Wealth Management LLC’s holdings in Edison International were worth $241,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Vanguard Group Inc. increased its position in shares of Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock worth $2,139,597,000 after buying an additional 1,239,752 shares during the period. BlackRock Inc. increased its position in shares of Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after buying an additional 23,420,049 shares during the period. Macquarie Group Ltd. increased its position in shares of Edison International by 8.6% in the fourth quarter. Macquarie Group Ltd. now owns 11,222,827 shares of the utilities provider’s stock worth $807,931,000 after buying an additional 885,507 shares during the period. Alliancebernstein L.P. increased its position in shares of Edison International by 6.1% in the first quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock worth $456,468,000 after buying an additional 330,071 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Edison International by 9.0% in the first quarter. Geode Capital Management LLC now owns 3,180,637 shares of the utilities provider’s stock worth $252,849,000 after buying an additional 262,165 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.
Shares of Edison International (NYSE EIX) traded up 0.68% during mid-day trading on Friday, reaching $78.98. 1,467,792 shares of the company’s stock were exchanged. Edison International has a one year low of $67.44 and a one year high of $82.82. The firm has a market capitalization of $25.73 billion, a P/E ratio of 18.71 and a beta of 0.22. The stock has a 50-day moving average of $79.49 and a 200 day moving average of $77.93.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Monday, May 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.21. Edison International had a return on equity of 10.78% and a net margin of 12.82%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the company earned $0.82 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, analysts forecast that Edison International will post $4.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.75%. Edison International’s payout ratio is presently 50.94%.
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EIX has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $83.00 price target (up previously from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research report on Sunday, June 25th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price target (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $82.63.
In other news, insider Gaddi H. Vasquez sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the transaction, the insider now directly owns 4,550 shares in the company, valued at $369,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Insiders have sold 31,035 shares of company stock valued at $2,460,285 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.
Edison International Company 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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