Traders Sell Edison International (EIX) on Strength (EIX)
Traders sold shares of Edison International (NYSE:EIX) on strength during trading hours on Tuesday. $16.76 million flowed into the stock on the tick-up and $33.65 million flowed out of the stock on the tick-down, for a money net flow of $16.89 million out of the stock. Of all stocks tracked, Edison International had the 28th highest net out-flow for the day. Edison International traded up $0.30 for the day and closed at $80.26
Several research firms recently weighed in on EIX. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Citigroup Inc. reissued a “neutral” rating and set a $84.00 price target (down from $85.00) on shares of Edison International in a report on Monday, July 24th. UBS AG cut Edison International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $82.00 to $80.00 in a report on Wednesday, May 17th. Jefferies Group LLC reissued a “hold” rating on shares of Edison International in a report on Friday, July 14th. Finally, Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.00.
The firm’s 50-day moving average is $79.45 and its 200 day moving average is $79.53. The company has a market capitalization of $26.15 billion, a PE ratio of 18.98 and a beta of 0.24.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a return on equity of 9.22% and a net margin of 10.42%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Edison International will post $4.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s payout ratio is currently 50.82%.
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 value of $203,250.00. Following the completion of the transaction, the insider now directly owns 4,550 shares of the company’s stock, valued at $369,915. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The disclosure for this sale can be found here. Insiders sold 229,715 shares of company stock valued at $18,505,971 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL boosted its holdings in shares of Edison International by 79.9% in the first quarter. Tudor Investment Corp ET AL now owns 10,077 shares of the utilities provider’s stock worth $802,000 after acquiring an additional 4,477 shares during the period. BlackRock Inc. raised 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 in the last quarter. Meeder Asset Management Inc. raised its position in shares of Edison International by 259.9% in the first quarter. Meeder Asset Management Inc. now owns 44,368 shares of the utilities provider’s stock worth $3,532,000 after buying an additional 32,041 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of Edison International in the first quarter worth $235,000. Finally, Bank of Nova Scotia raised its position in shares of Edison International by 909.3% in the first quarter. Bank of Nova Scotia now owns 74,873 shares of the utilities provider’s stock worth $5,961,000 after buying an additional 67,455 shares in the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
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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