Parametric Portfolio Associates LLC boosted its stake in Edison International (NYSE:EIX) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,596,746 shares of the utilities provider’s stock after acquiring an additional 100,204 shares during the period. Parametric Portfolio Associates LLC owned 0.45% of Edison International worth $107,637,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Coastal Investment Advisors Inc. bought a new stake in Edison International during the second quarter valued at $32,000. Trust Co. of Vermont grew its position in shares of Edison International by 101.2% during the second quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 250 shares during the last quarter. Sandy Spring Bank grew its position in shares of Edison International by 220.9% during the second quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 380 shares during the last quarter. Bremer Bank National Association bought a new position in shares of Edison International during the first quarter worth about $39,000. Finally, FinTrust Capital Advisors LLC grew its position in shares of Edison International by 189.2% during the second quarter. FinTrust Capital Advisors LLC now owns 645 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 422 shares during the last quarter. 78.13% of the stock is currently owned by hedge funds and other institutional investors.
NYSE EIX traded down $0.26 on Thursday, reaching $72.54. The company’s stock had a trading volume of 1,655,459 shares, compared to its average volume of 2,601,057. Edison International has a twelve month low of $45.50 and a twelve month high of $75.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.64 and a current ratio of 0.69. The stock has a market cap of $25.17 billion, a PE ratio of 17.48, a PEG ratio of 2.90 and a beta of 0.11. The firm’s 50 day moving average is $72.47 and its two-hundred day moving average is $65.68.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.613 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 3.38%. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, September 27th. Edison International’s dividend payout ratio is presently 59.04%.
Several research firms have recently commented on EIX. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. SunTrust Banks upped their price objective on shares of Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Barclays upped their price objective on shares of Edison International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Mizuho upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Morgan Stanley upped their price objective on shares of Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.09.
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.
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