B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund increased its stake in shares of Edison International (NYSE:EIX) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,000 shares of the utilities provider’s stock after acquiring an additional 40,000 shares during the quarter. Edison International makes up 2.9% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s investment portfolio, making the stock its 11th largest position. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund owned approximately 0.09% of Edison International worth $17,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of EIX. Pzena Investment Management LLC grew its position in Edison International by 43.1% during the 2nd quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock worth $495,809,000 after acquiring an additional 2,361,340 shares during the last quarter. Macquarie Group Ltd. grew its position in Edison International by 15.3% during the 2nd quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock worth $702,028,000 after acquiring an additional 1,475,620 shares during the last quarter. BlackRock Inc. grew its position in Edison International by 3.5% during the 1st quarter. BlackRock Inc. now owns 27,694,117 shares of the utilities provider’s stock worth $1,763,006,000 after acquiring an additional 947,981 shares during the last quarter. Natixis grew its position in Edison International by 241.3% during the 1st quarter. Natixis now owns 905,286 shares of the utilities provider’s stock worth $57,631,000 after acquiring an additional 640,031 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Edison International by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock worth $292,702,000 after acquiring an additional 539,897 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.
EIX has been the topic of several recent research reports. SunTrust Banks restated a “buy” rating and set a $75.00 price target on shares of Edison International in a research report on Wednesday, July 25th. Morgan Stanley raised their price target on Edison International from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. TheStreet upgraded Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 5th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, Wells Fargo & Co dropped their price objective on Edison International from $74.00 to $72.00 and set a “hold” rating for the company in a report on Monday, June 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $73.50.
NYSE EIX opened at $68.41 on Friday. Edison International has a fifty-two week low of $57.63 and a fifty-two week high of $83.38. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 2.84 and a beta of 0.08.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the business posted $0.85 EPS. The business’s revenue was down 5.1% on a year-over-year basis. research analysts expect that Edison International will post 4.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be paid a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 27th. Edison International’s payout ratio is presently 53.78%.
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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