Norinchukin Bank The Grows Position in Edison International (EIX)
Norinchukin Bank The lifted its stake in Edison International (NYSE:EIX) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,906 shares of the utilities provider’s stock after buying an additional 4,992 shares during the period. Norinchukin Bank The’s holdings in Edison International were worth $2,836,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia raised its position in Edison International by 4.8% in the third quarter. Commonwealth Bank of Australia now owns 52,081 shares of the utilities provider’s stock worth $3,521,000 after purchasing an additional 2,400 shares in the last quarter. Doyle Wealth Management raised its position in Edison International by 0.9% in the third quarter. Doyle Wealth Management now owns 137,752 shares of the utilities provider’s stock worth $9,323,000 after purchasing an additional 1,218 shares in the last quarter. MML Investors Services LLC raised its position in Edison International by 16.3% in the third quarter. MML Investors Services LLC now owns 11,912 shares of the utilities provider’s stock worth $806,000 after purchasing an additional 1,666 shares in the last quarter. Associated Banc Corp raised its position in Edison International by 5.5% in the third quarter. Associated Banc Corp now owns 36,537 shares of the utilities provider’s stock worth $2,473,000 after purchasing an additional 1,919 shares in the last quarter. Finally, Cantor Fitzgerald Investment Adviser L.P. acquired a new position in Edison International in the third quarter worth about $213,000. Institutional investors and hedge funds own 81.93% of the company’s stock.
Several research analysts recently issued reports on EIX shares. Bank of America increased their price target on shares of Edison International from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. SunTrust Banks reissued a “buy” rating and issued a $75.00 price target on shares of Edison International in a research report on Wednesday, July 25th. Wells Fargo & Co increased their price target on shares of Edison International from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Argus increased their price target on shares of Edison International from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Morgan Stanley reissued a “hold” rating on shares of Edison International in a research report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Edison International presently has an average rating of “Hold” and an average price target of $71.54.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.25. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. Equities analysts predict that Edison International will post 4.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were issued a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Thursday, September 27th. Edison International’s payout ratio is 53.78%.
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Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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