Meadow Creek Investment Management LLC Sells 11,888 Shares of Edison International (NYSE:EIX)

Meadow Creek Investment Management LLC cut its stake in Edison International (NYSE:EIX) by 31.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,568 shares of the utilities provider’s stock after selling 11,888 shares during the period. Meadow Creek Investment Management LLC’s holdings in Edison International were worth $1,724,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Natixis Advisors L.P. boosted its holdings in Edison International by 5.2% in the 2nd quarter. Natixis Advisors L.P. now owns 37,872 shares of the utilities provider’s stock valued at $2,553,000 after purchasing an additional 1,857 shares during the period. GAM Holding AG lifted its holdings in shares of Edison International by 24.8% during the 2nd quarter. GAM Holding AG now owns 4,449 shares of the utilities provider’s stock worth $300,000 after acquiring an additional 883 shares during the period. Veritable L.P. lifted its holdings in shares of Edison International by 10.1% during the 2nd quarter. Veritable L.P. now owns 7,814 shares of the utilities provider’s stock worth $527,000 after acquiring an additional 720 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Edison International by 2.2% during the 2nd quarter. Cetera Advisor Networks LLC now owns 13,891 shares of the utilities provider’s stock worth $938,000 after acquiring an additional 305 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Edison International by 87.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,420,925 shares of the utilities provider’s stock worth $298,013,000 after acquiring an additional 2,059,350 shares during the period. 78.13% of the stock is owned by hedge funds and other institutional investors.

EIX traded down $0.14 during midday trading on Friday, hitting $72.40. The company had a trading volume of 33,611 shares, compared to its average volume of 2,013,815. 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 company has a market capitalization of $25.76 billion, a PE ratio of 17.44, a P/E/G ratio of 2.97 and a beta of 0.11. Edison International has a twelve month low of $45.50 and a twelve month high of $75.39. The firm’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $65.68.



Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.43. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Edison International had a negative net margin of 1.21% and a positive return on equity of 12.15%. During the same quarter last year, the company posted $0.85 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.613 per share. This is a boost from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, September 27th. This represents a $2.45 annualized dividend and a dividend yield of 3.39%. Edison International’s payout ratio is currently 59.04%.

EIX has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. Wells Fargo & Co set a $73.00 target price on shares of Edison International and gave the stock a “hold” rating in a research report on Friday, July 26th. Barclays increased their target price on shares of Edison International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $67.00 to $72.00 in a research report on Tuesday, June 4th. Finally, Morgan Stanley increased their target price on shares of Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. One research 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 stock has a consensus rating of “Hold” and a consensus target price of $71.09.

About Edison International

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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