Comerica Bank Has $6.14 Million Stock Holdings in Edison International (NYSE:EIX)

Comerica Bank lifted its position in Edison International (NYSE:EIX - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,906 shares of the utilities provider's stock after buying an additional 7,262 shares during the quarter. Comerica Bank's holdings in Edison International were worth $6,140,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EIX. Crews Bank & Trust acquired a new position in shares of Edison International during the 4th quarter worth $25,000. Sierra Ocean LLC bought a new stake in Edison International in the fourth quarter worth $33,000. ST Germain D J Co. Inc. increased its position in Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after buying an additional 200 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after buying an additional 311 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new stake in shares of Edison International in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Performance

Shares of EIX traded up $0.45 on Thursday, reaching $56.20. 2,359,823 shares of the stock traded hands, compared to its average volume of 3,011,032. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The stock's 50-day moving average price is $56.66 and its 200-day moving average price is $66.66. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 EPS. Equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date was Monday, April 7th. Edison International's payout ratio is 46.95%.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Wednesday, April 23rd. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. The Goldman Sachs Group dropped their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.96.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.