Benjamin Edwards Inc. Has $411,000 Stock Holdings in Edison International (NYSE:EIX)

Key Points

• Benjamin Edwards Inc. reduced its holdings in Edison International by 43.2%, owning 6,983 shares valued at $411,000 after selling 5,312 shares in Q1.
• Several institutional investors are adjusting their positions in Edison International, with 88.95% of the stock now owned by these entities.
• Edison International recently reported earnings of $0.97 per share, exceeding estimates, and announced a dividend of $0.8275 per share, contributing to a 6.0% dividend yield.

Benjamin Edwards Inc. trimmed its holdings in Edison International (NYSE:EIX - Free Report) by 43.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,983 shares of the utilities provider's stock after selling 5,312 shares during the quarter. Benjamin Edwards Inc.'s holdings in Edison International were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in shares of Edison International in the 4th quarter valued at about $34,000. Rakuten Securities Inc. lifted its stake in shares of Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International in the 1st quarter valued at about $25,000. Investment Management Corp VA ADV increased its position in Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after buying an additional 265 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Edison International in the 1st quarter valued at about $35,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Morgan Stanley decreased their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. decreased their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Performance

Shares of EIX opened at $55.51 on Friday. The firm has a market capitalization of $21.36 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.32 and a beta of 0.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock has a 50 day moving average price of $51.91 and a two-hundred day moving average price of $54.22. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 6.0%. Edison International's dividend payout ratio is currently 48.60%.

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.

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