Hartford Investment Management Co. decreased its holdings in shares of Edison International (NYSE:EIX) by 12.2% in the 3rd quarter, Holdings Channel reports. The firm owned 40,050 shares of the utilities provider’s stock after selling 5,582 shares during the period. Hartford Investment Management Co.’s holdings in Edison International were worth $2,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Reilly Financial Advisors LLC lifted its stake in Edison International by 18.6% in the third quarter. Reilly Financial Advisors LLC now owns 4,567 shares of the utilities provider’s stock valued at $309,000 after acquiring an additional 717 shares during the last quarter. Strs Ohio lifted its stake in Edison International by 1.4% in the third quarter. Strs Ohio now owns 59,183 shares of the utilities provider’s stock valued at $4,005,000 after acquiring an additional 832 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in Edison International by 3.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 24,087 shares of the utilities provider’s stock valued at $1,630,000 after acquiring an additional 834 shares during the last quarter. Murphy Capital Management Inc. lifted its stake in Edison International by 13.9% in the second quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 900 shares during the last quarter. Finally, Gradient Investments LLC lifted its stake in Edison International by 94.2% in the third quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 989 shares during the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.

NYSE EIX opened at $53.91 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.02. The stock has a market cap of $17.74 billion, a PE ratio of 11.98, a P/E/G ratio of 2.21 and a beta of 0.01. Edison International has a 52-week low of $45.50 and a 52-week high of $81.96.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.25. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. Edison International’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 EPS. As a group, equities research analysts expect that Edison International will post 4.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were paid a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Thursday, September 27th. Edison International’s dividend payout ratio is presently 53.78%.

A number of brokerages have commented on EIX. Citigroup set a $72.00 price target on shares of Edison International and gave the company a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday, October 10th. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and increased their price target for the company from $72.00 to $75.00 in a research note on Thursday, October 11th. Argus increased their price target on shares of Edison International to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 11th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $71.54.

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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.

Further Reading: Call Option

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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