Janus Henderson Group PLC raised its position in shares of Edison International (NYSE:EIX) by 2,522.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,234,840 shares of the utilities provider’s stock after buying an additional 1,187,754 shares during the period. Janus Henderson Group PLC owned about 0.38% of Edison International worth $96,552,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Edison International by 2,416.6% in the 1st quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after purchasing an additional 23,420,049 shares during the period. Vanguard Group Inc. lifted its position in shares of Edison International by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock worth $2,139,597,000 after purchasing an additional 1,239,752 shares during the period. Brookfield Asset Management Inc. lifted its position in shares of Edison International by 127.9% in the 1st quarter. Brookfield Asset Management Inc. now owns 1,989,977 shares of the utilities provider’s stock worth $158,422,000 after purchasing an additional 1,116,880 shares during the period. BT Investment Management Ltd purchased a new stake in shares of Edison International in the 2nd quarter worth about $55,640,000. Finally, Renaissance Technologies LLC lifted its position in shares of Edison International by 27.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,991,000 shares of the utilities provider’s stock worth $238,114,000 after purchasing an additional 653,100 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) opened at 78.54 on Wednesday. The stock has a market capitalization of $25.59 billion, a PE ratio of 18.57 and a beta of 0.22. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The company’s 50-day moving average is $79.43 and its 200-day moving average is $79.53.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Edison International will post $4.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, September 28th. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
Several equities research analysts have recently commented on the stock. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Morgan Stanley raised their target price on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Mizuho reaffirmed a “buy” rating and issued a $87.00 target price (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $84.75.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.
About Edison International
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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