D.A. Davidson & CO. Reduces Holdings in Edison International (NYSE:EIX)

D.A. Davidson & CO. trimmed its position in shares of Edison International (NYSE:EIX - Free Report) by 21.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,433 shares of the utilities provider's stock after selling 9,340 shares during the quarter. D.A. Davidson & CO.'s holdings in Edison International were worth $2,029,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in EIX. Rakuten Securities Inc. grew its holdings in 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 buying an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the 1st quarter valued at $25,000. Bellwether Advisors LLC purchased a new stake in Edison International in the 4th quarter valued at $34,000. OFI Invest Asset Management purchased a new stake in Edison International in the 4th quarter valued at $38,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Edison International in the 4th quarter valued at $44,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX opened at $52.57 on Monday. The stock's 50-day moving average price is $53.90 and its 200 day moving average price is $57.55. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 1.23 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last posted its 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 return on equity of 13.21% and a net margin of 16.84%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, sell-side analysts expect 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 will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Monday, July 7th. Edison International's dividend payout ratio is currently 46.95%.

Analysts Set New Price Targets

Several brokerages have issued reports on EIX. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Finally, Barclays upped their price target on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

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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