Edgestream Partners L.P. Has $8.36 Million Holdings in Edison International (NYSE:EIX)

Edgestream Partners L.P. lifted its holdings in Edison International (NYSE:EIX - Free Report) by 41.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,947 shares of the utilities provider's stock after acquiring an additional 41,537 shares during the quarter. Edgestream Partners L.P.'s holdings in Edison International were worth $8,364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted 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 worth $3,879,408,000 after acquiring an additional 1,559,501 shares in the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 362,999 shares during the last quarter. Northern Trust Corp raised its position in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Edison International by 7.7% in the 4th 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 purchasing an additional 371,043 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Edison International by 1.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock worth $409,865,000 after purchasing an additional 50,451 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on EIX shares. Barclays boosted their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley dropped their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Trading Down 1.3%

Shares of EIX stock traded down $0.66 on Tuesday, hitting $50.30. The stock had a trading volume of 666,478 shares, compared to its average volume of 3,368,977. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The firm has a market cap of $19.35 billion, a P/E ratio of 7.13, a PEG ratio of 1.19 and a beta of 0.75. 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 company has a fifty day moving average price of $53.30 and a two-hundred day moving average price of $56.33.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.29 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The firm's revenue was down 6.5% on a year-over-year basis. As a group, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's payout ratio is presently 46.95%.

Edison International 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.