Edison International (EIX) Position Raised by State of Alaska Department of Revenue

Share on StockTwits

State of Alaska Department of Revenue boosted its stake in Edison International (NYSE:EIX) by 3.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,005 shares of the utilities provider’s stock after purchasing an additional 2,810 shares during the quarter. State of Alaska Department of Revenue’s holdings in Edison International were worth $6,292,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Murphy Capital Management Inc. lifted its position in Edison International by 13.9% during the second quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock valued at $466,000 after buying an additional 900 shares in the last quarter. BB&T Securities LLC lifted its position in Edison International by 29.3% during the second quarter. BB&T Securities LLC now owns 4,525 shares of the utilities provider’s stock valued at $286,000 after buying an additional 1,025 shares in the last quarter. CIBC Asset Management Inc lifted its position in Edison International by 4.1% during the second quarter. CIBC Asset Management Inc now owns 32,240 shares of the utilities provider’s stock valued at $2,040,000 after buying an additional 1,283 shares in the last quarter. Assetmark Inc. lifted its position in Edison International by 1.5% during the second quarter. Assetmark Inc. now owns 93,042 shares of the utilities provider’s stock valued at $5,887,000 after buying an additional 1,337 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Edison International by 3.5% during the second quarter. Amalgamated Bank now owns 41,039 shares of the utilities provider’s stock valued at $2,597,000 after buying an additional 1,399 shares in the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

NYSE EIX opened at $68.65 on Friday. Edison International has a 52 week low of $57.63 and a 52 week high of $83.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market cap of $22.05 billion, a PE ratio of 15.26, a PEG ratio of 2.84 and a beta of 0.08.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 26th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Edison International had a net margin of 4.34% and a return on equity of 10.27%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Edison International will post 4.08 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 given a dividend of $0.605 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.53%. Edison International’s payout ratio is currently 53.78%.

A number of research analysts have weighed in on EIX shares. Goldman Sachs Group set a $69.00 price target on shares of Edison International and gave the company a “hold” rating in a research report on Friday, September 14th. Wells Fargo & Co lifted their price target on shares of Edison International from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley lifted their price target on shares of Edison International from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. SunTrust Banks reaffirmed a “buy” rating and set a $75.00 price target on shares of Edison International in a research report on Wednesday, July 25th. Finally, Bank of America lifted their price target on shares of Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and an average price target of $73.92.

Edison International 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.

Featured Article: Insider Trading

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply