Economy

Utah Retirement Systems Has $4.55 Million Position in Edison International (NYSE:EIX)

The fund owned 1,310,252 shares of the utilities provider's stock after purchasing an additional 2,458 shares during the quarter.

Returns and Valuations for Consolidated Edison, Inc. Short shares increased from 3,862,212 to 3,931,426 over that period. Edison International has had 2 insider trades in the last 3 months, including 0 open market buys and 2 sells. On Thursday, March 16 CHANG VANESSA C L sold $197,571 worth of Edison International (NYSE:EIX) or 2,500 shares. Parallel Advisors LLC now owns 2,517 shares of the utilities provider's stock valued at $198,000 after purchasing an additional 741 shares during the last quarter. Finally, Element Capital Management LLC increased its stake in shares of Edison International by 0.8% in the second quarter. The fund owned 58,242 shares of the utilities provider's stock after acquiring an additional 400 shares during the quarter. The Brookfield Asset Management Inc holds 873,097 shares with $62.85 million value, up from 744,997 last quarter. Finally, Brighton Jones LLC acquired a new stake in Edison International in the first quarter valued at approximately $235,000. UBS AG cut Edison International from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $82.00 to $80.00 in a research note on Wednesday, May 17th. The company has a market capitalization of $26.12 billion, a PE ratio of 18.96 and a beta of 0.24.

Edison International (EIX) closed 5.51% above its 200-day moving average and is 3.21% above another chart threshold, its 50-day moving average. New England Investment & Retirement Grp Inc has 0.68% invested in Edison International (NYSE:EIX).

Shares of Edison International (NYSE EIX) opened at 81.49 on Tuesday. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of $0.85. Edison International (NYSE:EIX) has risen 12.39% since September 10, 2016 and is uptrending. To make a proper assessment, investors seek a sound estimate of this year's and next year's earnings per share (EPS), as well as a strong sense of how much the company will earn even farther down the road. On average, analysts forecast that Edison International will post $4.23 EPS for the current fiscal year. Edison International recently announced a dividend payable on Tuesday the 31st of October 2017. Stockholders of record on Friday, September 29th will be issued a dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.71%. Shares for $204,182 were sold by WHITE W BRETT on Wednesday, June 7. Edison International's payout ratio is now 80.67%. Shares for $2.05M were sold by Litzinger Ronald L. The stock rose 0.19% or $0.15 reaching $80.89 per share. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company's stock, valued at approximately $1,137,305.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.3 out of the scale from 1 to 5, where 1 stands for Buy and 5 means Sell.

COPYRIGHT VIOLATION NOTICE: This story was first published by BBNS and is owned by of BBNS. If you are accessing this piece on another website, it was stolen and reposted in violation of US and worldwide copyright and trademark legislation. Meeder Asset Management Inc. increased its stake in Edison International by 259.9% during the first quarter.

A number of brokerages have recently weighed in on EIX.

Edison International had its "buy" rating reiterated by analysts at Mizuho. BidaskClub lowered Edison International from a "hold" rating to a "sell" rating in a report on Sunday, June 25th. The firm has "Buy" rating given on Tuesday, August 15 by BMO Capital Markets.

08/11/2017 - Edison International was upgraded to "buy" by analysts at Jefferies. Zacks Investment Research raised shares of Edison International from a "hold" rating to a "buy" rating and set a $86.00 price target on the stock in a report on Thursday, July 6th. The stock has "Buy" rating by Argus Research on Wednesday, April 20. Edison International's average EBITDA per Share Growth Rate was 12.2 percent during the past 12 months.

Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California.



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