Edison International (EIX) : Girard Securities scooped up 5,500 additional shares in Edison International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 17,687 shares of Edison International which is valued at $1.3 Million.Edison International makes up approximately 1.24% of Girard Securities’s portfolio.
Other Hedge Funds, Including , Signaturefd boosted its stake in EIX in the latest quarter, The investment management firm added 101 additional shares and now holds a total of 221 shares of Edison International which is valued at $15,782. Numeric Investors added EIX to its portfolio by purchasing 1,784,900 company shares during the most recent quarter which is valued at $128.5 Million. Edison International makes up approx 1.38% of Numeric Investors’s portfolio.Schwab Charles Investment Management Inc boosted its stake in EIX in the latest quarter, The investment management firm added 7,110 additional shares and now holds a total of 919,065 shares of Edison International which is valued at $66.2 Million. Edison International makes up approx 0.09% of Schwab Charles Investment Management Inc’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in EIX by selling 6,560 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 407,675 shares of EIX which is valued at $29.3 Million. Edison International makes up approx 0.11% of State Board Of Administration Of Florida Retirement System’s portfolio.Cambridge Investment Research Advisors boosted its stake in EIX in the latest quarter, The investment management firm added 2,510 additional shares and now holds a total of 15,426 shares of Edison International which is valued at $1.1 Million. Edison International makes up approx 0.03% of Cambridge Investment Research Advisors’s portfolio.
Edison International opened for trading at $69.83 and hit $70.08 on the upside on Friday, eventually ending the session at $70.05, with a gain of 0.68% or 0.47 points. The heightened volatility saw the trading volume jump to 14,76,565 shares. Company has a market cap of $22,823,061 M.
On the company’s financial health, Edison International reported $0.82 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.88. The company had revenue of $2440.00 million for the quarter, compared to analysts expectations of $2844.83 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.90 EPS.
Investors should note that on Apr 28, 2016, Edison International announced a cash dividend of $0.4800. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 31, 2016.
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 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 Internationals 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.