Edison International (NYSE:EIX) Shares Purchased by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC significantly increased its holdings in Edison International by 471.7%, acquiring an additional 15,302 shares, bringing their total to 18,546 shares worth approximately $1,093,000.
• Edison International's stock has a consensus rating of "Moderate Buy" with an average price target of $76.19, after various analysts adjusted their ratings and price objectives.
• The company recently announced a quarterly dividend of $0.8275, translating to an annual yield of 6.2%, with a payout ratio of 48.60%.

Frank Rimerman Advisors LLC boosted its holdings in Edison International (NYSE:EIX - Free Report) by 471.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,546 shares of the utilities provider's stock after buying an additional 15,302 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Edison International were worth $1,093,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. grew its holdings in shares of Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International in the 1st quarter worth about $25,000. Investment Management Corp VA ADV increased its stake in Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Bellwether Advisors LLC purchased a new position in Edison International in the 4th quarter worth about $34,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Edison International in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. lowered their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Barclays lifted their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Morgan Stanley dropped their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. One 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 MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $76.19.

Edison International Stock Performance

Shares of NYSE EIX opened at $53.75 on Friday. The company has a market capitalization of $20.68 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 1.26 and a beta of 0.75. The business's 50-day moving average price is $51.79 and its two-hundred day moving average price is $54.25. Edison International has a one year low of $47.73 and a one year high of $88.77. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81.

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

Edison International Announces Dividend

The firm 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 was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International's dividend payout ratio is currently 48.60%.

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.

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