S Bank Fund Management Ltd Makes New $2.99 Million Investment in Edison International (NYSE:EIX)

Key Points

• S Bank Fund Management Ltd acquired a new stake in Edison International, purchasing 50,710 shares valued at approximately $2.99 million in the first quarter.
• Analysts have recently downgraded Edison International's ratings, with Wolfe Research shifting from "outperform" to "peer perform," while JPMorgan Chase lowered its price target from $75.00 to $71.00.
• Edison International reported a quarterly earnings per share of $0.97, surpassing analyst expectations of $0.88, with a revenue increase of 4.8% year-over-year.

S Bank Fund Management Ltd purchased a new position in Edison International (NYSE:EIX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,710 shares of the utilities provider's stock, valued at approximately $2,988,000.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. increased its stake in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Edison International in the first quarter worth $25,000. Investment Management Corp VA ADV increased its stake in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after acquiring an additional 265 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of Edison International in the fourth quarter worth $34,000. Finally, Zions Bancorporation National Association UT acquired a new position in Edison International during the first quarter worth $35,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE:EIX traded down $0.51 during trading on Friday, reaching $55.51. The stock had a trading volume of 2,146,547 shares, compared to its average volume of 3,800,672. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The business's 50-day moving average price is $51.91 and its 200 day moving average price is $54.21. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a market capitalization of $21.36 billion, a PE ratio of 8.15, a P/E/G ratio of 1.31 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Barclays increased their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

Edison International Profile

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.