AMP Capital Investors Ltd grew its position in Edison International (NYSE:EIX) by 16.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 673,119 shares of the utilities provider’s stock after acquiring an additional 94,850 shares during the quarter. AMP Capital Investors Ltd owned about 0.21% of Edison International worth $42,588,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Edison International by 3.5% in the first quarter. BlackRock Inc. now owns 27,694,117 shares of the utilities provider’s stock valued at $1,763,006,000 after acquiring an additional 947,981 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Edison International by 43.1% in the second quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock valued at $495,809,000 after purchasing an additional 2,361,340 shares during the last quarter. Boston Partners increased its holdings in shares of Edison International by 3.0% in the second quarter. Boston Partners now owns 5,075,296 shares of the utilities provider’s stock valued at $321,114,000 after purchasing an additional 145,785 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Edison International by 13.2% in the second quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock valued at $292,702,000 after purchasing an additional 539,897 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Edison International by 7.2% in the second quarter. Legal & General Group Plc now owns 3,151,054 shares of the utilities provider’s stock valued at $199,336,000 after purchasing an additional 210,647 shares during the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.
EIX stock opened at $67.30 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 0.99. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 2.76 and a beta of 0.09. Edison International has a 52-week low of $57.63 and a 52-week high of $83.38.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. equities research analysts anticipate that Edison International will post 4.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be paid a dividend of $0.605 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.42 annualized dividend and a yield of 3.60%. Edison International’s dividend payout ratio (DPR) is 53.78%.
Several equities research analysts recently commented on the company. Morgan Stanley reaffirmed a “hold” rating on shares of Edison International in a report on Monday, August 27th. Bank of America increased their price target on Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $75.00 price target on shares of Edison International in a report on Wednesday, July 25th. Wells Fargo & Co increased their price target on Edison International from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Finally, TheStreet raised Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.29.
About Edison International
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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