New England Investment Retirement Group Lowers stake in Edison International (EIX)

Edison International (EIX) : New England Investment Retirement Group reduced its stake in Edison International by 1.44% during the most recent quarter end. The investment management company now holds a total of 50,134 shares of Edison International which is valued at $3,809,181 after selling 734 shares in Edison International , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Edison International makes up approximately 2.21% of New England Investment Retirement Group’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in EIX by selling 22,002 shares or 3.09% in the most recent quarter. The Hedge Fund company now holds 689,887 shares of EIX which is valued at $52,417,614. Edison International makes up approx 0.11% of California State Teachers Retirement System’s portfolio.Huntington National Bank reduced its stake in EIX by selling 1,973 shares or 27.16% in the most recent quarter. The Hedge Fund company now holds 5,292 shares of EIX which is valued at $402,298. Edison International makes up approx 0.01% of Huntington National Bank’s portfolio.James Investment Research Inc boosted its stake in EIX in the latest quarter, The investment management firm added 7,946 additional shares and now holds a total of 488,265 shares of Edison International which is valued at $37,703,823. Edison International makes up approx 0.93% of James Investment Research Inc’s portfolio. Centurylink Investment Management Co sold out all of its stake in EIX during the most recent quarter. The investment firm sold 26,233 shares of EIX which is valued $2,050,634.

Edison International opened for trading at $76.07 and hit $76.86 on the upside on Thursday, eventually ending the session at $76.23, with a gain of 0.33% or 0.25 points. The heightened volatility saw the trading volume jump to 13,43,974 shares. Company has a market cap of $24,837 M.

On the company’s financial health, Edison International reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.97. The company had revenue of $2777.00 million for the quarter, compared to analysts expectations of $3158.65 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.

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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