Electron Capital Partners Lowers stake in Edison International (EIX)

Edison International (EIX) : Electron Capital Partners reduced its stake in Edison International by 19.69% during the most recent quarter end. The investment management company now holds a total of 111,675 shares of Edison International which is valued at $8,469,432 after selling 27,377 shares in Edison International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Edison International makes up approximately 3.37% of Electron Capital Partners’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management reduced its stake in EIX by selling 323,078 shares or 24.09% in the most recent quarter. The Hedge Fund company now holds 1,018,182 shares of EIX which is valued at $77,218,923. Edison International makes up approx 0.17% of Lazard Asset Management’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.Signaturefd reduced its stake in EIX by selling 24 shares or 10.86% in the most recent quarter. The Hedge Fund company now holds 197 shares of EIX which is valued at $15,244.Kornitzer Capital Management Inc Ks reduced its stake in EIX by selling 350 shares or 4.83% in the most recent quarter. The Hedge Fund company now holds 6,900 shares of EIX which is valued at $533,922. Edison International makes up approx 0.01% of Kornitzer Capital Management Inc Ks’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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