BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 9,486 Shares of Edison International (NYSE:EIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Edison International (NYSE:EIX) by 3.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 309,186 shares of the utilities provider’s stock after selling 9,486 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Edison International were worth $26,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc lifted its position in Edison International by 12.1% in the 1st quarter. Atria Investments Inc now owns 21,241 shares of the utilities provider’s stock valued at $1,502,000 after acquiring an additional 2,291 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Edison International by 955.8% during the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock valued at $7,413,000 after purchasing an additional 94,878 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Edison International by 38.2% during the first quarter. Cetera Advisors LLC now owns 12,714 shares of the utilities provider’s stock valued at $899,000 after buying an additional 3,511 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Edison International by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 73,596 shares of the utilities provider’s stock worth $5,067,000 after buying an additional 715 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Edison International by 108.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,143 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,117 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research analyst reports. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Trading Down 0.7 %

Shares of NYSE:EIX opened at $87.75 on Friday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a market cap of $33.97 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.10 and a beta of 0.92. The stock has a 50 day moving average of $84.89 and a 200 day moving average of $80.59. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm earned $1.38 EPS. The company’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International’s payout ratio is 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.