Semmax Financial Advisors Inc. Purchases Shares of 46,461 Edison International (NYSE:EIX)

Semmax Financial Advisors Inc. purchased a new stake in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,461 shares of the utilities provider’s stock, valued at approximately $2,686,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Camden Capital LLC purchased a new position in shares of Edison International in the 1st quarter valued at approximately $37,000. CSat Investment Advisory L.P. raised its position in shares of Edison International by 63.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 639 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 248 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Edison International in the 1st quarter valued at approximately $39,000. Montag A & Associates Inc. raised its position in shares of Edison International by 263.2% in the 2nd quarter. Montag A & Associates Inc. now owns 690 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Edison International in the 2nd quarter valued at approximately $43,000. 86.85% of the stock is owned by institutional investors and hedge funds.

EIX stock traded up $0.25 during midday trading on Friday, reaching $57.79. The stock had a trading volume of 32,750 shares, compared to its average volume of 1,945,435. The company’s fifty day simple moving average is $57.38 and its 200 day simple moving average is $57.89. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 3.81 and a beta of 0.59. Edison International has a 52-week low of $48.47 and a 52-week high of $66.68.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Edison International had a net margin of 6.83% and a return on equity of 11.69%. During the same quarter in the previous year, the business posted $1.00 EPS. Sell-side analysts predict that Edison International will post 4.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Shareholders of record on Thursday, September 30th will be issued a $0.6625 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $2.65 dividend on an annualized basis and a yield of 4.59%. Edison International’s payout ratio is currently 58.63%.

Several equities analysts recently commented on the stock. Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Tuesday, July 13th. Mizuho increased their price target on shares of Edison International from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Morgan Stanley cut their price target on shares of Edison International from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Friday. TheStreet upgraded shares of Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 29th. Finally, Barclays increased their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.57.

Edison International Company Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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