Elkhorn Investments LLC lowered its holdings in Edison International (NYSE:EIX) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,985 shares of the utilities provider’s stock after selling 877 shares during the period. Elkhorn Investments LLC’s holdings in Edison International were worth $1,188,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors bought a new stake in shares of Edison International in the third quarter valued at approximately $95,783,000. Steward Partners Investment Advisory LLC purchased a new position in Edison International during the third quarter valued at approximately $557,000. Magnetar Financial LLC purchased a new position in Edison International during the third quarter valued at approximately $256,000. Wells Fargo & Company MN grew its stake in Edison International by 30.3% during the third quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after acquiring an additional 598,402 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Edison International by 13.6% during the fourth quarter. Toronto Dominion Bank now owns 140,345 shares of the utilities provider’s stock valued at $8,875,000 after acquiring an additional 16,757 shares in the last quarter. 82.26% of the stock is currently owned by institutional investors.
Edison International (EIX) traded up $2.24 during mid-day trading on Wednesday, reaching $64.30. 868,079 shares of the company’s stock were exchanged, compared to its average volume of 3,440,884. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.84. Edison International has a fifty-two week low of $57.63 and a fifty-two week high of $83.38. The stock has a market cap of $19,613.83, a PE ratio of 36.08, a PEG ratio of 2.45 and a beta of 0.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a $0.605 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.42 dividend on an annualized basis and a yield of 3.76%. Edison International’s dividend payout ratio is presently 140.70%.
Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $69.00 price objective (down previously from $72.00) on shares of Edison International in a research note on Thursday, March 8th. Zacks Investment Research cut shares of Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. SunTrust Banks set a $69.00 price objective on shares of Edison International and gave the company a “buy” rating in a research note on Friday, February 23rd. TheStreet cut shares of Edison International from a “b-” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. Edison International has an average rating of “Hold” and an average target price of $76.93.
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Edison International Profile
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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