Edison International (EIX) Shares Sold by Chicago Equity Partners LLC
Chicago Equity Partners LLC decreased its stake in shares of Edison International (NYSE:EIX) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,965 shares of the utilities provider’s stock after selling 105 shares during the period. Chicago Equity Partners LLC’s holdings in Edison International were worth $310,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its holdings in shares of Edison International by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Edison International by 41.7% during the 1st quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. bought a new stake in shares of Edison International during the 1st quarter worth about $200,000. Gofen & Glossberg LLC IL bought a new stake in shares of Edison International during the 1st quarter worth about $201,000. Finally, Bailard Inc. bought a new stake in shares of Edison International during the 1st quarter worth about $201,000. 81.56% of the stock is owned by institutional investors and hedge funds.
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In other news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction dated 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 completion of the transaction, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.
Edison International (NYSE EIX) opened at 80.98 on Thursday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The firm has a market capitalization of $26.38 billion, a PE ratio of 19.15 and a beta of 0.24. The stock has a 50 day moving average of $79.76 and a 200 day moving average of $79.62.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the 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 net margin of 12.64% and a return on equity of 10.58%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities analysts predict that Edison International will post $4.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.68%. Edison International’s payout ratio is 50.82%.
EIX has been the subject of several research analyst reports. UBS AG downgraded shares of Edison International from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $80.00 in a report on Wednesday, May 17th. BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Thursday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a report on Friday, July 14th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $84.15.
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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