Kornitzer Capital Management Inc. KS raised its holdings in Edison International (NYSE:EIX) by 57.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,950 shares of the utilities provider’s stock after acquiring an additional 5,100 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Edison International were worth $940,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Edison International in the first quarter valued at $276,000. OppenheimerFunds Inc. lifted its holdings in Edison International by 24.6% in the first quarter. OppenheimerFunds Inc. now owns 1,003,826 shares of the utilities provider’s stock valued at $62,157,000 after acquiring an additional 198,252 shares during the period. Neuburgh Advisers LLC lifted its holdings in Edison International by 105.4% in the first quarter. Neuburgh Advisers LLC now owns 51,502 shares of the utilities provider’s stock valued at $3,189,000 after acquiring an additional 26,422 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in Edison International by 0.8% in 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 acquiring an additional 407 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Edison International by 10.0% in the second quarter. Daiwa Securities Group Inc. now owns 92,247 shares of the utilities provider’s stock valued at $6,218,000 after acquiring an additional 8,350 shares during the period. 75.46% of the stock is owned by institutional investors.
EIX has been the subject of a number of recent analyst reports. Wells Fargo & Co set a $73.00 target price on Edison International and gave the company a “hold” rating in a report on Friday, July 26th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating and set a $63.00 target price for the company in a report on Friday, May 31st. Mizuho raised their target price on Edison International from $75.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. SunTrust Banks raised their target price on Edison International from $80.00 to $81.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Barclays reissued a “hold” rating and issued a $72.00 target price on shares of Edison International in a report on Sunday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Edison International currently has an average rating of “Hold” and a consensus price target of $71.00.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.43. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that Edison International will post 4.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, July 5th. Edison International’s dividend payout ratio is presently 59.04%.
Edison International Company 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.
See Also: Compound Annual Growth Rate (CAGR)
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.