Regentatlantic Capital LLC decreased its stake in shares of Edison International (NYSE:EIX) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,097 shares of the utilities provider’s stock after selling 182 shares during the quarter. Regentatlantic Capital LLC’s holdings in Edison International were worth $1,018,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Edison International during the first quarter worth $276,000. OppenheimerFunds Inc. lifted its position in Edison International by 24.6% during the first quarter. OppenheimerFunds Inc. now owns 1,003,826 shares of the utilities provider’s stock valued at $62,157,000 after purchasing an additional 198,252 shares during the last quarter. Neuburgh Advisers LLC lifted its position in Edison International by 105.4% during the first quarter. Neuburgh Advisers LLC now owns 51,502 shares of the utilities provider’s stock valued at $3,189,000 after purchasing an additional 26,422 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in Edison International by 0.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 49,509 shares of the utilities provider’s stock valued at $3,066,000 after purchasing an additional 407 shares during the last quarter. Finally, Actinver Wealth Management Inc. bought a new position in Edison International during the fourth quarter valued at $217,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Several research firms have commented on EIX. Barclays reiterated a “hold” rating and set a $72.00 price objective on shares of Edison International in a research report on Sunday, July 28th. Mizuho increased their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Co set a $73.00 price objective on shares of Edison International and gave the company a “hold” rating in a research report on Friday, July 26th. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. Finally, SunTrust Banks increased their price objective on shares of Edison International to $77.00 and gave the company a “positive” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $70.45.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.43. Edison International had a negative net margin of 1.21% and a positive return on equity of 12.15%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, sell-side analysts predict that Edison International will post 4.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, July 5th. Edison International’s dividend payout ratio is currently 59.04%.
About Edison International
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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