Commonwealth Equity Services Inc Has $3.35 Million Position in Edison International (EIX)
Commonwealth Equity Services Inc lifted its stake in shares of Edison International (NYSE:EIX) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,358 shares of the utilities provider’s stock after purchasing an additional 1,858 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Edison International were worth $3,345,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP raised its stake in shares of Edison International by 54.8% during the 3rd quarter. Quantbot Technologies LP now owns 91,476 shares of the utilities provider’s stock valued at $7,059,000 after purchasing an additional 32,386 shares during the period. Kwmg LLC bought a new stake in shares of Edison International during the 3rd quarter valued at $1,700,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Edison International by 25.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 108,052 shares of the utilities provider’s stock valued at $8,338,000 after purchasing an additional 21,691 shares during the period. Sigma Planning Corp bought a new stake in shares of Edison International during the 3rd quarter valued at $239,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Edison International by 68.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 185,333 shares of the utilities provider’s stock valued at $14,302,000 after purchasing an additional 75,473 shares during the period. Institutional investors own 80.14% of the company’s stock.
A number of analysts recently issued reports on EIX shares. Morgan Stanley boosted their price objective on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Bank of America Corporation reiterated a “buy” rating and set a $86.00 price objective on shares of Edison International in a research note on Tuesday, October 24th. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $84.00 price objective on shares of Edison International in a research note on Sunday, September 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price objective on shares of Edison International in a research note on Sunday, July 30th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $85.08.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.
Shares of Edison International (NYSE EIX) traded down $0.46 during trading on Tuesday, hitting $80.43. The stock had a trading volume of 1,342,900 shares, compared to its average volume of 1,686,654. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The company has a market cap of $26,350.00, a price-to-earnings ratio of 18.43, a PEG ratio of 2.94 and a beta of 0.24. Edison International has a 12-month low of $67.73 and a 12-month high of $83.38.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 EPS. analysts expect that Edison International will post 4.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 28th. Edison International’s dividend payout ratio is presently 49.54%.
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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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