Amundi Pioneer Asset Management Inc. acquired a new position in Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 349,154 shares of the utilities provider’s stock, valued at approximately $22,081,000. Amundi Pioneer Asset Management Inc. owned approximately 0.11% of Edison International as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EIX. Cerebellum GP LLC acquired a new stake in Edison International in the 4th quarter worth about $116,000. Amica Retiree Medical Trust acquired a new stake in Edison International in the 3rd quarter worth about $138,000. First Command Financial Services Inc. acquired a new stake in Edison International in the 4th quarter worth about $154,000. Advisory Services Network LLC raised its stake in Edison International by 1,842.3% in the 4th quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 2,524 shares in the last quarter. Finally, KCS Wealth Advisory acquired a new stake in Edison International in the 4th quarter worth about $206,000. Institutional investors and hedge funds own 82.26% of the company’s stock.
Several brokerages have recently commented on EIX. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Citigroup set a $87.00 target price on shares of Edison International and gave the company a “hold” rating in a research report on Tuesday, December 12th. Mizuho cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. Deutsche Bank dropped their target price on shares of Edison International to $78.00 and set a “hold” rating for the company in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group set a $70.00 target price on shares of Edison International and gave the company a “hold” rating in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Edison International presently has an average rating of “Hold” and an average target price of $76.93.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $2.98 billion. Edison International had a net margin of 5.59% and a return on equity of 10.86%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. research analysts anticipate that Edison International will post 4.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, March 28th. Edison International’s dividend payout ratio (DPR) 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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