Pzena Investment Management LLC cut its holdings in Edison International (NYSE:EIX) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,409,652 shares of the utilities provider’s stock after selling 105,822 shares during the quarter. Edison International accounts for 2.6% of Pzena Investment Management LLC’s portfolio, making the stock its 10th biggest holding. Pzena Investment Management LLC owned 2.27% of Edison International worth $499,485,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of EIX. JPMorgan Chase & Co. boosted its position in Edison International by 131.4% during the first quarter. JPMorgan Chase & Co. now owns 7,011,057 shares of the utilities provider’s stock worth $434,123,000 after purchasing an additional 3,981,351 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Edison International by 76.1% in the first quarter. Janus Henderson Group PLC now owns 801,960 shares of the utilities provider’s stock worth $49,656,000 after acquiring an additional 346,612 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Edison International by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 4,262,828 shares of the utilities provider’s stock worth $241,582,000 after acquiring an additional 320,556 shares during the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of Edison International by 88.8% in the first quarter. Reaves W H & Co. Inc. now owns 650,000 shares of the utilities provider’s stock worth $40,248,000 after acquiring an additional 305,800 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Edison International by 17.3% in the first quarter. Jennison Associates LLC now owns 1,456,982 shares of the utilities provider’s stock worth $90,216,000 after acquiring an additional 214,554 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
A number of research firms have recently weighed in on EIX. Morgan Stanley boosted their price target on Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday. Mizuho upped their target price on Edison International from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Wolfe Research upgraded Edison International from a “peer perform” rating to an “outperform” rating in a research note on Monday, May 6th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating and set a $63.00 target price for the company in a research note on Friday, May 31st. Finally, Wells Fargo & Co set a $73.00 target price on Edison International and gave the company a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Edison International has an average rating of “Hold” and a consensus price target of $71.00.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.43. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, analysts predict that Edison International will post 4.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, July 5th. Edison International’s dividend payout ratio is currently 59.04%.
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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