IFP Advisors Inc lowered its position in shares of Edison International (NYSE:EIX) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,587 shares of the utilities provider’s stock after selling 212 shares during the period. IFP Advisors Inc’s holdings in Edison International were worth $593,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its position in Edison International by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,986 shares of the utilities provider’s stock worth $237,000 after buying an additional 70 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Edison International by 5.7% in the first quarter. Raymond James Trust N.A. now owns 4,907 shares of the utilities provider’s stock valued at $390,000 after buying an additional 263 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Edison International by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 101,077 shares of the utilities provider’s stock valued at $8,046,000 after buying an additional 1,250 shares in the last quarter. National Pension Service raised its stake in shares of Edison International by 2.8% in the first quarter. National Pension Service now owns 260,601 shares of the utilities provider’s stock valued at $20,715,000 after buying an additional 7,055 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Edison International by 3.3% in the first quarter. Bank of Montreal Can now owns 544,727 shares of the utilities provider’s stock valued at $43,367,000 after buying an additional 17,237 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.
Shares of Edison International (NYSE EIX) opened at 79.53 on Friday. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 18.81 and a beta of 0.22. The stock has a 50 day moving average of $78.39 and a 200 day moving average of $78.66. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Edison International will post $4.24 EPS for the current year.
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EIX has been the topic of several research reports. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, July 6th. Mizuho reaffirmed a “buy” rating and issued a $91.50 price objective on shares of Edison International in a research report on Wednesday, April 19th. Jefferies Group LLC raised shares of Edison International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $90.00 in a research report on Friday. Barclays PLC reaffirmed an “equal weight” rating and issued a $84.00 price objective (up previously from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $84.35.
In other news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director W Brett White sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total transaction of $204,175.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at approximately $204,175. The disclosure for this sale can be found here. Insiders sold a total of 31,035 shares of company stock worth $2,460,285 in the last quarter. Company insiders own 0.41% of the company’s stock.
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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