BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $4.06 Million Stake in Edison International (NYSE:EIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Edison International (NYSE:EIX) by 13.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 70,236 shares of the utilities provider’s stock after acquiring an additional 8,195 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Edison International were worth $4,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Avantax Advisory Services Inc. raised its stake in Edison International by 4.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,003 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 211 shares in the last quarter. Sigma Planning Corp raised its stake in Edison International by 6.7% in the 1st quarter. Sigma Planning Corp now owns 3,525 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 222 shares in the last quarter. Parallel Advisors LLC raised its stake in Edison International by 10.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,516 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 228 shares in the last quarter. CSat Investment Advisory L.P. raised its stake in Edison International by 63.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 639 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 248 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Edison International by 3.4% in the 2nd quarter. Raymond James Trust N.A. now owns 7,604 shares of the utilities provider’s stock valued at $440,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.

Shares of Edison International stock opened at $58.48 on Wednesday. The firm has a market capitalization of $22.21 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.81 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average is $57.35 and its 200 day moving average is $57.88. Edison International has a 1 year low of $48.47 and a 1 year high of $66.68.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.05). Edison International had a net margin of 6.83% and a return on equity of 11.69%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that Edison International will post 4.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.6625 per share. This represents a $2.65 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Wednesday, September 29th. Edison International’s payout ratio is 58.63%.

Several brokerages have recently commented on EIX. Morgan Stanley dropped their target price on shares of Edison International from $72.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, September 9th. Barclays boosted their target price on shares of Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and set a $59.00 target price for the company. in a research report on Tuesday, July 13th. TheStreet upgraded shares of Edison International from a “c” rating to a “b-” rating in a research report on Thursday, July 29th. Finally, Mizuho boosted their target price on shares of Edison International from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $66.00.

Edison International Company Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

Recommended Story: What is the quiet period?

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX).

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.