Janney Montgomery Scott LLC Grows Stake in Edison International (NYSE:EIX)

Janney Montgomery Scott LLC lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 17.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,332 shares of the utilities provider's stock after purchasing an additional 15,718 shares during the quarter. Janney Montgomery Scott LLC's holdings in Edison International were worth $6,324,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in Edison International by 33.2% in the first quarter. Exchange Traded Concepts LLC now owns 5,348 shares of the utilities provider's stock worth $315,000 after acquiring an additional 1,333 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Edison International by 135.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after purchasing an additional 71,159 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of Edison International during the 1st quarter worth $438,000. Tobam purchased a new stake in shares of Edison International during the 1st quarter worth $665,000. Finally, Net Worth Advisory Group grew its stake in shares of Edison International by 5.1% during the first quarter. Net Worth Advisory Group now owns 7,322 shares of the utilities provider's stock worth $431,000 after purchasing an additional 357 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Edison International stock traded down $0.89 during mid-day trading on Wednesday, reaching $50.50. 2,551,895 shares of the company were exchanged, compared to its average volume of 3,250,851. The firm's 50-day simple moving average is $54.79 and its two-hundred day simple moving average is $59.34. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The firm has a market cap of $19.43 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.20 and a beta of 0.78. 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 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. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.55%. Edison International's payout ratio is 46.95%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EIX shares. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Mizuho lowered their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $76.82.

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.