Edison International (NYSE:EIX) Stock Holdings Lifted by Equitable Trust Co.

Key Points

• Equitable Trust Co. significantly increased its holdings in Edison International by 179.6%, owning 43,127 shares valued at $2.54 million after acquiring an additional 27,703 shares.
• Edison International reported an EPS of $1.37 for the last quarter, exceeding estimates of $1.21, but its revenue declined 6.5% year-over-year to $3.81 billion.
• The company announced a quarterly dividend of $0.8275 per share, representing an annual yield of 6.25%, with a payout ratio of 46.95%.

Equitable Trust Co. increased its position in shares of Edison International (NYSE:EIX - Free Report) by 179.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,127 shares of the utilities provider's stock after acquiring an additional 27,703 shares during the period. Equitable Trust Co.'s holdings in Edison International were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Rakuten Securities Inc. boosted its holdings in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Edison International during the first quarter valued at $25,000. Bellwether Advisors LLC purchased a new stake in shares of Edison International during the fourth quarter valued at $34,000. Mizuho Bank Ltd. purchased a new stake in Edison International in the fourth quarter worth about $50,000. Finally, Versant Capital Management Inc lifted its stake in Edison International by 96.7% in the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after acquiring an additional 433 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Shares of NYSE EIX traded down $0.11 during mid-day trading on Wednesday, hitting $52.34. The company had a trading volume of 926,570 shares, compared to its average volume of 4,462,211. The firm's 50 day simple moving average is $52.17 and its two-hundred day simple moving average is $54.62. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.23 and a beta of 0.75. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts forecast 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. Stockholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.32%. Edison International's dividend payout ratio is 46.95%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EIX. Morgan Stanley dropped their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. dropped their target price on 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 Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.35.

About Edison International

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.