Edison International (EIX) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in Edison International (NYSE:EIX) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 93,005 shares of the utilities provider’s stock after acquiring 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 SEC filing.

Several other large investors also recently modified their holdings of the stock. Murphy Capital Management Inc. increased its stake in shares of Edison International by 13.9% in the second quarter. Murphy Capital Management Inc. now owns 7,366 shares of the utilities provider’s stock worth $466,000 after buying an additional 900 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Edison International by 29.3% in the second quarter. BB&T Securities LLC now owns 4,525 shares of the utilities provider’s stock worth $286,000 after buying an additional 1,025 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Edison International by 4.1% in the second quarter. CIBC Asset Management Inc now owns 32,240 shares of the utilities provider’s stock worth $2,040,000 after buying an additional 1,283 shares during the last quarter. Assetmark Inc. increased its stake in shares of Edison International by 1.5% in the second quarter. Assetmark Inc. now owns 93,042 shares of the utilities provider’s stock worth $5,887,000 after buying an additional 1,337 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Edison International by 3.5% in the second quarter. Amalgamated Bank now owns 41,039 shares of the utilities provider’s stock worth $2,597,000 after buying an additional 1,399 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

A number of brokerages recently issued reports on EIX. Barclays assumed coverage on shares of Edison International in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $73.00 price target for the company. Morgan Stanley reiterated a “hold” rating on shares of Edison International in a research note on Monday, August 27th. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating and set a $74.00 target price for the company in a research note on Tuesday, July 10th. Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and boosted their target price for the company from $72.00 to $75.00 in a research note on Thursday. Finally, Argus boosted their target price on shares of Edison International from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Edison International currently has an average rating of “Hold” and a consensus target price of $73.92.

EIX stock opened at $68.65 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38. The firm has a market cap of $22.05 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.84 and a beta of 0.08.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.97 billion. Edison International had a net margin of 4.34% and a return on equity of 10.27%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities research analysts predict that Edison International will post 4.08 earnings per share for the current fiscal year.

The company also recently declared 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 annualized dividend and a dividend yield of 3.53%. Edison International’s dividend payout ratio is currently 53.78%.

Edison International Company 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.

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

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