Edison International (NYSE:EIX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Edison International (NYSE:EIX - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,674,025 shares of the utilities provider's stock after buying an additional 53,903 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Edison International worth $157,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock worth $795,123,000 after acquiring an additional 362,999 shares during the last quarter. Northern Trust Corp lifted its stake in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Edison International by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock worth $412,246,000 after buying an additional 371,043 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock valued at $409,865,000 after buying an additional 50,451 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Trading Down 0.2%

Shares of EIX traded down $0.10 on Wednesday, hitting $50.64. 7,339,922 shares of the stock traded hands, compared to its average volume of 3,356,961. The firm has a market capitalization of $19.48 billion, a P/E ratio of 7.18, a P/E/G ratio of 1.19 and a beta of 0.75. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The stock's 50 day moving average is $53.58 and its two-hundred day moving average is $57.30.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The company's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.54%. Edison International's dividend payout ratio is currently 46.95%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EIX. JPMorgan Chase & Co. dropped 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 note on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley cut their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Barclays lifted their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. 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 equities research 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

Edison International Company 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.