Infrastructure Capital Advisors LLC Sells 18,006 Shares of Edison International $EIX

Key Points

• Infrastructure Capital Advisors LLC reduced its Edison International stake by 69.9%, selling 18,006 shares and retaining 7,748 shares valued at approximately $567,000. Institutional investors collectively own 88.95% of the company.
• Edison International reported quarterly EPS of $1.42, beating estimates of $1.32, while revenue rose 7.7% year over year to $4.10 billion. The company declared a quarterly dividend of $0.8775 per share, representing a 4.5% annualized yield.
• EIX shares opened at $78.64, near their 52-week high of $80.90. Analysts’ average rating is “Hold”, with an average price target of $72.64.

Infrastructure Capital Advisors LLC lowered its position in shares of Edison International (NYSE:EIX - Free Report) by 69.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,748 shares of the utilities provider's stock after selling 18,006 shares during the period. Infrastructure Capital Advisors LLC's holdings in Edison International were worth $567,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider's stock worth $3,134,268,000 after purchasing an additional 480,726 shares during the period. State Street Corp increased its holdings in Edison International by 3.0% during the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider's stock valued at $1,989,135,000 after purchasing an additional 953,800 shares during the period. AQR Capital Management LLC increased its holdings in Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the period. Geode Capital Management LLC raised its position in Edison International by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider's stock valued at $803,407,000 after purchasing an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp raised its position in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider's stock valued at $364,341,000 after purchasing an additional 662,477 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Price Performance

EIX opened at $78.64 on Tuesday. The company's 50-day simple moving average is $73.76 and its two-hundred day simple moving average is $70.58. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The stock has a market capitalization of $30.26 billion, a P/E ratio of 8.54, a P/E/G ratio of 6.20 and a beta of 0.66. Edison International has a 52-week low of $51.01 and a 52-week high of $80.90.

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

Edison International Announces Dividend

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 issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International's payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Edison International from $82.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Seaport Research Partners cut shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Morgan Stanley reissued an "underweight" rating and issued a $69.00 price target on shares of Edison International in a research note on Wednesday, July 22nd. Barclays raised their price objective on shares of Edison International from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Bank of America cut their price objective on Edison International from $80.00 to $78.00 and set a "buy" rating on the stock 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $72.64.

About Edison International

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.