NGAM Advisors L.P. raised its stake in Edison International (NYSE:EIX) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,633 shares of the utilities provider’s stock after buying an additional 1,457 shares during the period. NGAM Advisors L.P.’s holdings in Edison International were worth $2,786,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Edison International by 5.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 25,170 shares of the utilities provider’s stock valued at $1,968,000 after buying an additional 1,270 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Edison International by 0.8% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 291,583 shares of the utilities provider’s stock valued at $22,799,000 after buying an additional 2,335 shares in the last quarter. Strs Ohio increased its stake in shares of Edison International by 5.0% in the second quarter. Strs Ohio now owns 104,474 shares of the utilities provider’s stock valued at $8,168,000 after buying an additional 4,951 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Edison International during the second quarter valued at $762,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Edison International by 19.6% in the second quarter. Russell Investments Group Ltd. now owns 1,246,921 shares of the utilities provider’s stock valued at $97,496,000 after buying an additional 204,727 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.
Shares of Edison International (NYSE:EIX) opened at 79.67 on Friday. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 18.84 and a beta of 0.22. Edison International has a one year low of $67.44 and a one year high of $82.82. The firm has a 50-day moving average price of $78.42 and a 200 day moving average price of $78.60.
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, meeting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the business posted $0.85 EPS. Edison International’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that Edison International will post $4.24 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on EIX shares. Morgan Stanley raised their price objective on Edison International from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday. BidaskClub upgraded Edison International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and issued a $85.00 price objective on shares of Edison International in a research note on Sunday, July 30th. Citigroup Inc. restated a “neutral” rating and issued a $84.00 price objective (down from $85.00) on shares of Edison International in a research note on Monday, July 24th. Finally, Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a research note 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. The company presently has an average rating of “Hold” and an average target price of $83.96.
In related news, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total value 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 $204,175. The disclosure for this sale can be found here. Insiders sold a total of 31,035 shares of company stock valued at $2,460,285 over the last ninety days. 0.41% of the stock is currently owned by company 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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