Edison International (EIX) Position Decreased by IFP Advisors Inc
IFP Advisors Inc lowered its stake in shares of Edison International (NYSE:EIX) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 7,587 shares of the utilities provider’s stock after selling 212 shares during the period. IFP Advisors Inc’s holdings in Edison International were worth $593,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the last quarter. Jones Collombin Investment Counsel Inc boosted its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares during the last quarter. Parallel Advisors LLC boosted its stake in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the last quarter. Wayne Hummer Investments L.L.C. bought a new stake in Edison International during the first quarter valued at about $200,000. Finally, Gofen & Glossberg LLC IL bought a new stake in Edison International during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.
Edison International (NYSE:EIX) opened at 79.53 on Friday. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The company has a 50 day moving average of $78.39 and a 200-day moving average of $78.66. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 18.81 and a beta of 0.22.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Edison International will post $4.24 earnings per share for the current year.
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Several equities research analysts have recently issued reports on EIX shares. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Thursday, July 6th. Mizuho reiterated a “buy” rating and set a $91.50 price objective on shares of Edison International in a research report on Wednesday, April 19th. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $90.00 in a research report on Friday. Barclays PLC reiterated an “equal weight” rating and set a $84.00 price objective (up previously from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Edison International presently has a consensus rating of “Hold” and a consensus price target of $84.35.
In other Edison International news, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total value of $204,175.00. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at $204,175. The disclosure for this sale can be found here. Insiders sold a total of 31,035 shares of company stock valued at $2,460,285 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
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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