Machina Capital S.A.S. Buys New Position in Edison International (NYSE:EIX)

Key Points

• Machina Capital S.A.S. has made a new investment in Edison International (NYSE:EIX), acquiring 6,483 shares valued at approximately $382,000 during the first quarter.
• The company's most recent earnings report showed $1.37 earnings per share, surpassing estimates, but revenue was down 6.5% year-over-year at $3.81 billion.
• Edison International declared a quarterly dividend of $0.8275 per share, reflecting a 6.25% yield with a payout ratio of 46.95%.

Machina Capital S.A.S. bought a new position in Edison International (NYSE:EIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,483 shares of the utilities provider's stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Bellwether Advisors LLC purchased a new position in shares of Edison International during the fourth quarter valued at approximately $34,000. Rakuten Securities Inc. grew its stake 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 acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Edison International in the first quarter worth $25,000. Mizuho Bank Ltd. bought a new position in shares of Edison International during the fourth quarter valued at $50,000. Finally, Ameriflex Group Inc. bought a new position in shares of Edison International during the fourth quarter valued at $56,000. Institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent research reports. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.35.

Edison International Trading Down 0.1%

Shares of EIX stock traded down $0.04 on Tuesday, reaching $52.23. 853,881 shares of the company's stock were exchanged, compared to its average volume of 4,472,971. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $20.10 billion, a PE ratio of 7.41, a P/E/G ratio of 1.25 and a beta of 0.75. The company's fifty day simple moving average is $52.29 and its 200 day simple moving average is $54.63.

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 analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. As a group, analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business 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 $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.34%. Edison International's dividend payout ratio is presently 46.95%.

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.