Edison International $EIX Position Increased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Edison International stake by 14.6% in the first quarter, bringing its holdings to 210,994 shares valued at approximately $15.4 million. Institutional investors collectively own 88.95% of the company.
• Edison International reported quarterly earnings of $1.42 per share, exceeding estimates of $1.32, while revenue rose 7.7% year over year to $4.10 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.8775 per share, equivalent to an annualized $3.51 dividend and a 4.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $72.64.

Cetera Investment Advisers boosted its stake in shares of Edison International (NYSE:EIX - Free Report) by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,994 shares of the utilities provider's stock after purchasing an additional 26,886 shares during the quarter. Cetera Investment Advisers owned approximately 0.05% of Edison International worth $15,441,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EIX. 10Elms LLP bought a new stake in Edison International in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC boosted its holdings in shares of Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 281 shares during the period. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Edison International by 866.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 702 shares during the period. DV Equities LLC bought a new position in shares of Edison International during the fourth quarter worth about $52,000. Finally, McMillan Office Inc. bought a new position in shares of Edison International during the fourth quarter worth about $55,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of NYSE EIX opened at $79.85 on Wednesday. Edison International has a fifty-two week low of $51.01 and a fifty-two week high of $81.62. The firm's 50-day simple moving average is $73.95 and its 200 day simple moving average is $70.73. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.73 billion, a P/E ratio of 8.67, a P/E/G ratio of 6.11 and a beta of 0.66.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 earnings per share. Equities analysts expect that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, July 7th. Edison International's payout ratio is 38.11%.

Wall Street Analyst Weigh In

EIX has been the topic of several recent research reports. Barclays lifted their price objective on shares of Edison International from $77.00 to $78.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Bank of America dropped their price target on shares of Edison International from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. JPMorgan Chase & Co. lifted their price target on Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Edison International in a report on Monday, July 13th. Finally, Seaport Research Partners downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $72.64.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.