D. E. Shaw & Co. Inc. lifted its holdings in Edison International (NYSE:EIX) by 1.3% in the 2nd quarter, Holdings Channel reports. The firm owned 2,076,537 shares of the utilities provider’s stock after buying an additional 27,570 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Edison International were worth $139,979,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Coastal Investment Advisors Inc. acquired a new position in Edison International during the 2nd quarter worth $32,000. Trust Co. of Vermont lifted its position in Edison International by 101.2% during the 2nd quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 250 shares during the last quarter. Sandy Spring Bank lifted its position in Edison International by 220.9% during the 2nd quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 380 shares during the last quarter. Bremer Bank National Association acquired a new position in Edison International during the 1st quarter worth $39,000. Finally, FinTrust Capital Advisors LLC lifted its position in Edison International by 189.2% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 645 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 422 shares during the last quarter. 77.85% of the stock is owned by institutional investors and hedge funds.
NYSE EIX traded up $0.11 on Friday, reaching $72.74. The company’s stock had a trading volume of 3,346,892 shares, compared to its average volume of 1,807,456. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.23. The firm has a market cap of $25.50 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.11. Edison International has a 52 week low of $45.50 and a 52 week high of $75.39. The business has a 50-day moving average price of $72.64 and a 200 day moving average price of $66.12.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.613 per share. This represents a $2.45 annualized dividend and a yield of 3.37%. This is a boost from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, September 27th. Edison International’s dividend payout ratio is currently 59.04%.
A number of research firms have weighed in on EIX. Citigroup reissued a “buy” rating and set a $81.00 target price (up previously from $78.00) on shares of Edison International in a research report on Wednesday. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a report on Friday, July 26th. Barclays boosted their price objective on shares of Edison International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. SunTrust Banks boosted their price objective on shares of Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.45.
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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