Pensionfund Sabic adds Edison International (EIX) to its portfolio

Edison International (EIX) : Pensionfund Sabic added new position in Edison International during the most recent quarter end. The investment management firm now holds 25,000 shares of Edison International which is valued at $1.8 Million according to a report filed by the company on Apr 4, 2016 with the SEC.Edison International makes up approximately 0.54% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands added EIX to its portfolio by purchasing 55,000 company shares during the most recent quarter which is valued at $3.9 Million. Edison International makes up approx 0.53% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Edison International reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.30 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.58. The company had revenue of $2341.00 million for the quarter, compared to analysts expectations of $3399.75 million. The company’s revenue was down -24.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.08 EPS.

Many Wall Street Analysts have commented on Edison International. Edison International was Downgraded by Goldman to ” Neutral” on Apr 1, 2016. Company shares were Reiterated by Argus on Mar 3, 2016 to “Buy”, Firm has raised the Price Target to $ 76 from a previous price target of $69 .Company shares were Reiterated by Mizuho on Feb 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 69 from a previous price target of $60 .

Edison International closed down -0.13 points or -0.18% at $70.56 with 12,60,341 shares getting traded on Monday. Post opening the session at $70.75, the shares hit an intraday low of $70.43 and an intraday high of $71.25 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison International’s other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC a subsidiary engaged in distributed generation has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.

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