Teachers Advisors LLC grew its stake in shares of Edison International (NYSE:EIX) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,310,252 shares of the utilities provider’s stock after purchasing an additional 2,458 shares during the quarter. Teachers Advisors LLC owned approximately 0.40% of Edison International worth $102,449,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America grew its holdings in shares of Edison International by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 8 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Edison International by 41.7% during the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 741 shares during the last quarter. Wayne Hummer Investments L.L.C. bought a new position in shares of Edison International during the first quarter valued at approximately $200,000. Gofen & Glossberg LLC IL bought a new position in shares of Edison International during the first quarter valued at approximately $201,000. Finally, Bailard Inc. bought a new position in shares of Edison International during the first quarter valued at approximately $201,000. 81.56% of the stock is owned by institutional investors.
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Shares of Edison International (EIX) traded up 0.10% during trading on Wednesday, reaching $80.82. The company had a trading volume of 460,384 shares. The company has a market cap of $26.33 billion, a P/E ratio of 19.11 and a beta of 0.24. The firm has a 50-day moving average of $79.70 and a 200-day moving average of $79.60. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82.
Edison International (NYSE:EIX) last posted 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. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities research analysts anticipate that Edison International will post $4.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s payout ratio is 50.82%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.
Several equities analysts have recently commented on EIX shares. BidaskClub lowered Edison International from a “hold” rating to a “sell” rating in a report on Sunday, June 25th. Zacks Investment Research lowered Edison International from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $90.00 in a report on Friday, August 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of Edison International in a report on Thursday, August 17th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.15.
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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