AustralianSuper Pty Ltd increased its holdings in shares of Edison International (NYSE:EIX - Free Report) by 20.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,941 shares of the utilities provider's stock after buying an additional 80,680 shares during the quarter. AustralianSuper Pty Ltd owned 0.12% of Edison International worth $28,278,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of EIX. Oppenheimer & Co. Inc. lifted its position in shares of Edison International by 98.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after purchasing an additional 5,454 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in Edison International during the 1st quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC boosted its position in Edison International by 135.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after buying an additional 71,159 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Edison International by 4,157.4% in the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock valued at $8,554,000 after purchasing an additional 141,769 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Edison International by 17.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock valued at $6,324,000 after purchasing an additional 15,718 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.
Analyst Ratings Changes
EIX has been the subject of a number of research analyst reports. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley lowered their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. cut their price target 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. Finally, Barclays upped their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.82.
Read Our Latest Stock Analysis on EIX
Edison International Stock Down 0.4%
Shares of EIX stock traded down $0.19 during mid-day trading on Friday, hitting $51.14. 2,995,596 shares of the stock traded hands, compared to its average volume of 3,406,889. The stock has a market cap of $19.68 billion, a P/E ratio of 7.25, a P/E/G ratio of 1.21 and a beta of 0.75. The stock's fifty day moving average is $52.91 and its two-hundred day moving average is $55.70. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89.
Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the business posted $1.13 EPS. The company's revenue was down 6.5% on a year-over-year basis. Equities analysts predict that Edison International will post 4.95 EPS for the current year.
Edison International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio (DPR) is 46.95%.
About Edison International
(
Free Report)
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.
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