Comerica Bank Has $4.76 Million Position in Edison International (EIX)

Comerica Bank decreased its position in Edison International (NYSE:EIX) by 17.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,463 shares of the utilities provider’s stock after selling 14,478 shares during the quarter. Comerica Bank’s holdings in Edison International were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC increased its position in Edison International by 16.6% during the 3rd quarter. Private Advisor Group LLC now owns 7,232 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 1,027 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Edison International by 7.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 187,691 shares of the utilities provider’s stock worth $12,703,000 after purchasing an additional 12,435 shares in the last quarter. Moody National Bank Trust Division increased its position in Edison International by 382.1% during the 3rd quarter. Moody National Bank Trust Division now owns 46,122 shares of the utilities provider’s stock worth $3,122,000 after purchasing an additional 36,555 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in Edison International by 22.6% during the 3rd quarter. Reliance Trust Co. of Delaware now owns 8,191 shares of the utilities provider’s stock worth $554,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Edison International by 3.6% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 24,087 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 834 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on EIX shares. Bank of America increased their target price on shares of Edison International from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. SunTrust Banks reissued a “buy” rating and set a $75.00 target price on shares of Edison International in a research report on Wednesday, July 25th. Wells Fargo & Co increased their target price on shares of Edison International from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Argus increased their target price on shares of Edison International from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Morgan Stanley restated a “hold” rating on shares of Edison International in a report on Monday, August 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.69.

NYSE EIX opened at $47.19 on Friday. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.26 and a beta of 0.01. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $82.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.66.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.25. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. Edison International’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. As a group, sell-side analysts forecast that Edison International will post 4.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were issued a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Thursday, September 27th. Edison International’s dividend payout ratio is presently 53.78%.

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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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