Doyle Wealth Management Purchases 1,218 Shares of Edison International (EIX)

Doyle Wealth Management grew its position in shares of Edison International (NYSE:EIX) by 0.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 137,752 shares of the utilities provider’s stock after buying an additional 1,218 shares during the period. Edison International makes up about 1.4% of Doyle Wealth Management’s holdings, making the stock its 27th biggest holding. Doyle Wealth Management’s holdings in Edison International were worth $9,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. Pzena Investment Management LLC increased its holdings in shares of Edison International by 43.1% during the second quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock valued at $495,809,000 after acquiring an additional 2,361,340 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Edison International by 15.3% during the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock valued at $702,028,000 after acquiring an additional 1,475,620 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Edison International by 13.2% during the second quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock valued at $292,702,000 after acquiring an additional 539,897 shares in the last quarter. Columbus Hill Capital Management L.P. increased its holdings in shares of Edison International by 1,706.3% during the second quarter. Columbus Hill Capital Management L.P. now owns 505,753 shares of the utilities provider’s stock valued at $31,999,000 after acquiring an additional 477,753 shares in the last quarter. Finally, Tobam increased its holdings in shares of Edison International by 37.3% during the second quarter. Tobam now owns 951,251 shares of the utilities provider’s stock valued at $60,186,000 after acquiring an additional 258,555 shares in the last quarter. Hedge funds and other institutional investors own 81.24% of the company’s stock.

Shares of NYSE:EIX opened at $55.54 on Wednesday. The company has a market cap of $17.45 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.18 and a beta of 0.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. Edison International has a 12-month low of $45.50 and a 12-month high of $83.38.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.25. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. Edison International’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, research analysts predict that Edison International will post 4.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were given a dividend of $0.605 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.42 annualized dividend and a dividend yield of 4.36%. Edison International’s payout ratio is 53.78%.

Several equities research analysts have recently commented on EIX shares. Argus boosted their price objective on Edison International to $80.00 and gave the company a “buy” rating in a report on Thursday, October 11th. They noted that the move was a valuation call. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Wednesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and set a $75.00 target price on shares of Edison International in a research report on Wednesday, July 25th. Bank of America lifted their target price on Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Goldman Sachs Group set a $69.00 target price on Edison International and gave the company a “hold” rating in a research report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $73.69.

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Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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