Luminus Management LLC trimmed its position in Edison International (NYSE:EIX) by 37.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 571,798 shares of the utilities provider’s stock after selling 336,511 shares during the period. Edison International comprises approximately 0.8% of Luminus Management LLC’s holdings, making the stock its 27th largest holding. Luminus Management LLC owned about 0.18% of Edison International worth $36,161,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Maple Brown Abbott Ltd bought a new position in Edison International in the 4th quarter valued at $1,192,752,000. BlackRock Inc. boosted its position in Edison International by 7.4% in the 4th quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock valued at $1,691,424,000 after buying an additional 1,832,822 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Edison International by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,529,323 shares of the utilities provider’s stock valued at $222,735,000 after purchasing an additional 193,975 shares during the period. Deutsche Bank AG lifted its stake in shares of Edison International by 4.6% in the 4th quarter. Deutsche Bank AG now owns 3,415,561 shares of the utilities provider’s stock valued at $215,994,000 after purchasing an additional 150,064 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Edison International by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock valued at $212,288,000 after purchasing an additional 149,780 shares during the period. Hedge funds and other institutional investors own 82.26% of the company’s stock.
A number of research analysts have recently weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $69.00 price target (down previously from $72.00) on shares of Edison International in a research note on Thursday. SunTrust Banks set a $69.00 price target on Edison International and gave the company a “buy” rating in a research note on Friday, February 23rd. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, UBS Group assumed coverage on Edison International in a research note on Friday, February 2nd. They issued a “neutral” rating and a $67.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus target price of $76.93.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.17. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.98 billion. Edison International had a return on equity of 10.86% and a net margin of 5.59%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. analysts expect that Edison International will post 4.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 4.08%. The ex-dividend date is Wednesday, March 28th. Edison International’s payout ratio is presently 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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