Cetera Investment Advisers Purchases 6,019 Shares of Edison International (NYSE:EIX)

Key Points

• Cetera Investment Advisers increased its holdings in Edison International by 7.4% during the first quarter, owning 87,547 shares valued at approximately $5.16 million.
• Edison International recently reported earnings per share of $0.97, exceeding analyst expectations, with a revenue of $4.54 billion for the quarter, up 4.8% year-over-year.
• The company declared a quarterly dividend of $0.8275 per share, representing an annualized yield of 6.2%, with a payout ratio of 48.60%.

Cetera Investment Advisers lifted its stake in Edison International (NYSE:EIX - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,547 shares of the utilities provider's stock after purchasing an additional 6,019 shares during the period. Cetera Investment Advisers' holdings in Edison International were worth $5,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bellwether Advisors LLC bought a new position in shares of Edison International during the fourth quarter worth $34,000. Rakuten Securities Inc. increased its stake 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 during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International during the 1st quarter worth approximately $25,000. Mizuho Bank Ltd. acquired a new position in shares of Edison International during the 4th quarter worth about $50,000. Finally, Ameriflex Group Inc. bought a new position in Edison International during the fourth quarter worth $56,000. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price objective on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday. 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 note on Monday, May 19th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. One investment 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 has a consensus rating of "Moderate Buy" and an average price target of $76.19.

Edison International Stock Up 3.7%

Shares of NYSE:EIX traded up $1.98 during midday trading on Monday, hitting $55.11. 5,142,320 shares of the company's stock were exchanged, compared to its average volume of 4,515,753. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a market cap of $21.20 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a 50 day moving average price of $51.92 and a 200-day moving average price of $54.44.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. Edison International's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.0%. Edison International's dividend payout ratio (DPR) is 48.60%.

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.