BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Edison International (NYSE:EIX - Free Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,959 shares of the utilities provider's stock after acquiring an additional 9,773 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of Edison International worth $25,466,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of EIX. Crews Bank & Trust bought a new stake in Edison International in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in shares of Edison International in the 4th quarter worth about $33,000. Raleigh Capital Management Inc. increased its holdings in shares of Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock worth $34,000 after acquiring an additional 311 shares during the period. Bellwether Advisors LLC bought a new stake in Edison International in the 4th quarter valued at about $34,000. Finally, OFI Invest Asset Management bought a new stake in Edison International in the 4th quarter valued at about $38,000. Institutional investors own 88.95% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on EIX shares. Mizuho decreased their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Morgan Stanley set a $52.00 price objective on Edison International and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.89.
Read Our Latest Research Report on EIX
Edison International Price Performance
Shares of NYSE EIX traded up $0.36 during midday trading on Tuesday, reaching $57.00. The company's stock had a trading volume of 666,100 shares, compared to its average volume of 3,038,019. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The company has a 50 day moving average price of $56.77 and a 200 day moving average price of $64.04. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.
Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, equities research analysts expect that Edison International will post 4.95 EPS for the current year.
Edison International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Monday, April 7th. Edison International's payout ratio is 46.95%.
Edison International Company Profile
(
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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