Edison International (EIX) Position Maintained by Endurance Wealth Management Inc.
Endurance Wealth Management Inc. held its stake in Edison International (NYSE:EIX) during the second quarter, Holdings Channel reports. The firm owned 3,000 shares of the utilities provider’s stock at the end of the second quarter. Endurance Wealth Management Inc.’s holdings in Edison International were worth $235,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Edison International by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,945 shares of the utilities provider’s stock valued at $234,000 after buying an additional 17 shares during the last quarter. CENTRAL TRUST Co raised its stake in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock valued at $235,000 after buying an additional 22 shares during the last quarter. Cleararc Capital Inc. raised its stake in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after buying an additional 42 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its stake in Edison International by 1.6% in the first quarter. Baystate Wealth Management LLC now owns 3,092 shares of the utilities provider’s stock valued at $250,000 after buying an additional 50 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Edison International (EIX) opened at 79.44 on Tuesday. The firm’s 50-day moving average is $78.84 and its 200-day moving average is $78.37. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 18.78 and a beta of 0.22. Edison International has a one year low of $67.44 and a one year high of $82.82.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Analysts expect that Edison International will post $4.24 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. UBS AG lowered shares of Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $82.00 to $80.00 in a report on Wednesday, May 17th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $84.00 target price (down previously from $85.00) on shares of Edison International in a report on Monday, July 24th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 target price (up previously from $82.00) on shares of Edison International in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.46.
In other news, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gaddi H. Vasquez sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $81.30, for a total value of $203,250.00. Following the sale, the insider now owns 4,550 shares in the company, valued at $369,915. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,035 shares of company stock valued at $2,460,285. Insiders own 0.41% of the company’s stock.
About Edison International
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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