Cornerstone Capital Management Holdings LLC. lowered its holdings in shares of Edison International (NYSE:EIX) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,693 shares of the utilities provider’s stock after selling 22,557 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.10% of Edison International worth $25,056,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Edison International by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after buying an additional 487,713 shares during the last quarter. BlackRock Inc. boosted its stake in Edison International by 1.1% during the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after buying an additional 270,625 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after buying an additional 526,261 shares during the last quarter. Boston Partners boosted its stake in Edison International by 4.2% during the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after buying an additional 151,153 shares during the last quarter. Finally, FIL Ltd boosted its stake in Edison International by 12.1% during the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after buying an additional 301,131 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Several equities research analysts have recently issued reports on EIX shares. Jefferies Group raised Edison International from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $90.00 in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Edison International in a research note on Thursday, August 17th. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Mizuho reaffirmed a “buy” rating and issued a $87.00 price objective (up from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Finally, Morgan Stanley raised their price objective on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Edison International has a consensus rating of “Hold” and an average price target of $84.54.
Shares of Edison International (EIX) opened at $71.80 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. Edison International has a fifty-two week low of $67.80 and a fifty-two week high of $83.38. The firm has a market capitalization of $23,383.47, a P/E ratio of 16.35, a PEG ratio of 2.60 and a beta of 0.23.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. research analysts anticipate that Edison International will post 4.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.605 per share. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, December 28th. Edison International’s dividend payout ratio (DPR) is presently 48.98%.
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Edison International 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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