Luminus Management LLC lessened its holdings in shares of Edison International (NYSE:EIX) by 37.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 571,798 shares of the utilities provider’s stock after selling 336,511 shares during the quarter. Edison International accounts for approximately 0.8% of Luminus Management LLC’s holdings, making the stock its 27th largest holding. Luminus Management LLC’s holdings in Edison International were worth $36,161,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of EIX. Victory Capital Management Inc. raised its stake in Edison International by 19.3% during the 3rd quarter. Victory Capital Management Inc. now owns 79,629 shares of the utilities provider’s stock worth $6,145,000 after buying an additional 12,888 shares during the period. Global X MANAGEMENT CO LLC increased its holdings in Edison International by 16.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 10,835 shares of the utilities provider’s stock worth $836,000 after purchasing an additional 1,518 shares in the last quarter. FDx Advisors Inc. increased its holdings in Edison International by 16.5% during the 3rd quarter. FDx Advisors Inc. now owns 4,602 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 653 shares in the last quarter. Sei Investments Co. increased its holdings in Edison International by 19.3% during the 3rd quarter. Sei Investments Co. now owns 377,017 shares of the utilities provider’s stock worth $29,094,000 after purchasing an additional 61,050 shares in the last quarter. Finally, Intrust Bank NA increased its holdings in Edison International by 17.9% during the 3rd quarter. Intrust Bank NA now owns 11,063 shares of the utilities provider’s stock worth $854,000 after purchasing an additional 1,682 shares in the last quarter. 82.26% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on EIX. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Citigroup set a $87.00 target price on Edison International and gave the stock a “hold” rating in a report on Tuesday, December 12th. Mizuho cut Edison International from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Deutsche Bank lowered their target price on Edison International to $78.00 and set a “hold” rating for the company in a report on Wednesday, December 6th. Finally, Goldman Sachs Group set a $70.00 target price on Edison International and gave the stock a “hold” rating in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.93.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.17. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Edison International had a return on equity of 10.86% and a net margin of 5.59%. Edison International’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. sell-side analysts expect that Edison International will post 4.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.605 dividend. This represents a $2.42 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, March 28th. Edison International’s payout ratio is 140.70%.
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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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