Gulf International Bank UK Ltd raised its position in shares of Edison International (NYSE:EIX) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,288 shares of the utilities provider’s stock after buying an additional 211 shares during the period. Gulf International Bank UK Ltd’s holdings in Edison International were worth $7,919,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in EIX. BlackRock Inc. increased its stake in Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after buying an additional 23,420,049 shares during the period. Vanguard Group Inc. increased its position in Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock valued at $2,139,597,000 after buying an additional 1,239,752 shares during the period. Brookfield Asset Management Inc. increased its position in Edison International by 127.9% in the first quarter. Brookfield Asset Management Inc. now owns 1,989,977 shares of the utilities provider’s stock valued at $158,422,000 after buying an additional 1,116,880 shares during the period. Macquarie Group Ltd. increased its position in Edison International by 8.6% in the fourth quarter. Macquarie Group Ltd. now owns 11,222,827 shares of the utilities provider’s stock valued at $807,931,000 after buying an additional 885,507 shares during the period. Finally, Renaissance Technologies LLC increased its position in Edison International by 27.9% in the first quarter. Renaissance Technologies LLC now owns 2,991,000 shares of the utilities provider’s stock valued at $238,114,000 after buying an additional 653,100 shares during the period. 81.85% of the stock is owned by institutional investors.
Shares of Edison International (NYSE:EIX) opened at 79.45 on Thursday. The company’s 50 day moving average price is $78.48 and its 200 day moving average price is $78.60. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 18.79 and a beta of 0.22.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. Edison International’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Analysts forecast that Edison International will post $4.24 earnings per share for the current year.
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Several research firms have recently issued reports on EIX. BidaskClub raised Edison International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Jefferies Group LLC reissued a “hold” rating and issued a $85.00 target price on shares of Edison International in a research note on Sunday, July 30th. Citigroup Inc. reissued a “neutral” rating and issued a $84.00 target price (down previously from $85.00) on shares of Edison International in a research note on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Edison International in a research note on Tuesday, July 11th. Finally, Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $83.46.
In related news, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction 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 directly owns 2,500 shares of the company’s stock, valued at approximately $204,175. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,035 shares of company stock valued at $2,460,285. 0.41% of the stock is owned by corporate insiders.
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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