KCS Wealth Advisory Buys Shares of 3,255 Edison International (EIX)
KCS Wealth Advisory bought a new position in shares of Edison International (NYSE:EIX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,255 shares of the utilities provider’s stock, valued at approximately $206,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Edison International by 1.8% during 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 in the last quarter. FIL Ltd grew its stake in shares of Edison International by 12.1% during the 2nd quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock worth $218,073,000 after acquiring an additional 301,131 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Edison International by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock worth $212,288,000 after acquiring an additional 149,780 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after acquiring an additional 598,402 shares in the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in shares of Edison International by 14.8% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,284,007 shares of the utilities provider’s stock worth $178,587,000 after acquiring an additional 294,030 shares in the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on EIX shares. Edward Jones cut shares of Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. Morgan Stanley decreased their price target on shares of Edison International from $96.00 to $82.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 13th. Citigroup raised their price target on shares of Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Finally, Mizuho reaffirmed a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $80.67.
Shares of Edison International (NYSE EIX) opened at $61.42 on Friday. The company has a market capitalization of $20,011.31, a P/E ratio of 13.86, a PEG ratio of 2.26 and a beta of 0.24. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. Edison International has a twelve month low of $61.25 and a twelve month high of $83.38.
Edison International (NYSE:EIX) last released 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. analysts forecast that Edison International will post 4.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio is presently 54.63%.
In other news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.
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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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