Rare Infrastructure Ltd Lowers stake in Edison International (EIX)

Edison International (EIX) : Rare Infrastructure Ltd reduced its stake in Edison International by 7.01% during the most recent quarter end. The investment management company now holds a total of 1,411,243 shares of Edison International which is valued at $107,028,669 after selling 106,458 shares in Edison International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Edison International makes up approximately 4.71% of Rare Infrastructure Ltd’s portfolio.

Other Hedge Funds, Including , Element Capital Management boosted its stake in EIX in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 8,736 shares of Edison International which is valued at $662,538. Edison International makes up approx 0.09% of Element Capital Management’s portfolio. Delphi Private Advisors added EIX to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $1,213.Thrivent Financial For Lutherans boosted its stake in EIX in the latest quarter, The investment management firm added 76,350 additional shares and now holds a total of 245,995 shares of Edison International which is valued at $18,656,261. Edison International makes up approx 0.09% of Thrivent Financial For Lutherans’s portfolio.Great West Life Assurance Co Can boosted its stake in EIX in the latest quarter, The investment management firm added 58,287 additional shares and now holds a total of 292,667 shares of Edison International which is valued at $22,236,839. Edison International makes up approx 0.06% of Great West Life Assurance Co Can’s portfolio.Winslow Evans Crocker boosted its stake in EIX in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 412 shares of Edison International which is valued at $31,988. Edison International makes up approx 0.01% of Winslow Evans Crocker’s portfolio.

Edison International closed down -0.02 points or -0.03% at $72.7 with 15,09,660 shares getting traded on Thursday. Post opening the session at $72.66, the shares hit an intraday low of $72.25 and an intraday high of $72.76 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Investors should note that on Aug 25, 2016, Edison International announced a cash dividend of $0.4800. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

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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