Investors Sell Edison International (EIX) on Strength (EIX)
Traders sold shares of Edison International (NYSE:EIX) on strength during trading 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 equities tracked, Edison International had the 0th highest net out-flow for the day. Edison International traded up $0.30 for the day and closed at $80.26
A number of equities research analysts have recently weighed in on EIX shares. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, July 6th. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley lifted their price target on shares of Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Mizuho reiterated a “buy” rating and issued a $87.00 price target (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research report on Sunday, June 25th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $84.00.
The company has a market cap of $26.13 billion, a PE ratio of 18.965 and a beta of 0.24. The firm has a 50 day moving average price of $79.50 and a 200-day moving average price of $79.53.
Edison International (NYSE:EIX) last issued 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 net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that Edison International will post $4.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio is currently 50.82%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Edison International by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock worth $2,139,568,000 after acquiring an additional 487,713 shares during the last quarter. BlackRock Inc. lifted its position in shares of Edison International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock worth $1,928,152,000 after purchasing an additional 270,625 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Edison International by 3.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock worth $1,197,430,000 after purchasing an additional 526,261 shares during the period. Alliancebernstein L.P. lifted its position in shares of Edison International by 6.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock worth $456,468,000 after purchasing an additional 330,071 shares during the period. Finally, Boston Partners lifted its position in shares of Edison International by 4.2% in the 2nd quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock worth $292,142,000 after purchasing an additional 151,153 shares during the period. 81.55% of the stock is currently owned by institutional investors and hedge funds.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.