Traders sold shares of Edison International (NYSE:EIX) on strength during trading hours on Friday. $64.08 million flowed into the stock on the tick-up and $128.47 million flowed out of the stock on the tick-down, for a money net flow of $64.39 million out of the stock. Of all equities tracked, Edison International had the 0th highest net out-flow for the day. Edison International traded up $0.03 for the day and closed at $71.80
A number of research firms have recently weighed in on EIX. SunTrust Banks reissued a “buy” rating and issued a $85.00 price target on shares of Edison International in a research note on Thursday. Deutsche Bank cut their price target on Edison International to $78.00 and set a “hold” rating on the stock in a research note on Wednesday. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday. ValuEngine downgraded Edison International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Bank of America reissued a “buy” rating and issued a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Edison International has a consensus rating of “Hold” and an average target price of $84.54.
The firm has a market cap of $23,386.75, a P/E ratio of 16.35, a P/E/G ratio of 2.60 and a beta of 0.23. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. research analysts forecast that Edison International will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is presently 48.98%.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.
A number of institutional investors have recently modified their holdings of EIX. HL Financial Services LLC raised its stake in Edison International by 2.7% during the 2nd quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after buying an additional 70 shares during the period. Global X Management Co. LLC raised its stake in Edison International by 23.9% during the 2nd quarter. Global X Management Co. LLC now owns 9,317 shares of the utilities provider’s stock worth $728,000 after buying an additional 1,796 shares during the period. Trexquant Investment LP acquired a new stake in Edison International during the 2nd quarter worth $563,000. Wetherby Asset Management Inc. increased its holdings in Edison International by 0.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 12 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Edison International by 15.7% during the 2nd quarter. First Trust Advisors LP now owns 867,103 shares of the utilities provider’s stock worth $67,799,000 after purchasing an additional 117,448 shares in the last quarter. 81.36% of the stock is currently owned by institutional investors and hedge funds.
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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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