Edison International (NYSE:EIX) Stake Raised by Carson Advisory Inc.

Carson Advisory Inc. increased its stake in shares of Edison International (NYSE:EIX - Free Report) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,380 shares of the utilities provider's stock after buying an additional 10,152 shares during the quarter. Edison International accounts for 2.5% of Carson Advisory Inc.'s investment portfolio, making the stock its 8th largest holding. Carson Advisory Inc.'s holdings in Edison International were worth $3,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of EIX. Bellwether Advisors LLC purchased a new position in shares of Edison International during the 4th quarter valued at $34,000. Rakuten Securities Inc. lifted its holdings in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after purchasing an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International during the 1st quarter worth about $25,000. Mizuho Bank Ltd. purchased a new stake in Edison International during the 4th quarter worth about $50,000. Finally, Ameriflex Group Inc. purchased a new stake in Edison International during the 4th quarter worth about $56,000. Institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX traded up $0.04 during mid-day trading on Monday, hitting $51.18. 181,408 shares of the stock were exchanged, compared to its average volume of 3,394,439. The company has a market cap of $19.69 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The firm has a 50-day moving average of $52.91 and a two-hundred day moving average of $55.53. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company earned $1.13 EPS. Edison International's quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.47%. The ex-dividend date is Monday, July 7th. Edison International's dividend payout ratio is presently 46.95%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EIX shares. Morgan Stanley dropped their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Barclays upped their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note 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. Finally, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Company 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.