Mediolanum International Funds Ltd Has $784,000 Holdings in Edison International (NYSE:EIX)

Key Points

• Mediolanum International Funds Ltd increased its stake in Edison International by 83.6%, bringing its total holdings to 13,474 shares valued at approximately $784,000.
• Edison International has reported a quarterly earnings per share (EPS) of $1.37, exceeding estimates, though its revenue for the quarter fell 6.5% year-over-year.
• The company declared a quarterly dividend of $0.8275 per share, equating to an annual yield of 6.31% for shareholders.

Mediolanum International Funds Ltd boosted its position in shares of Edison International (NYSE:EIX - Free Report) by 83.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,474 shares of the utilities provider's stock after purchasing an additional 6,135 shares during the period. Mediolanum International Funds Ltd's holdings in Edison International were worth $784,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. FSB Premier Wealth Management Inc. increased its holdings in shares of Edison International by 5.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock worth $352,000 after buying an additional 217 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Edison International by 0.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after acquiring an additional 218 shares during the last quarter. KWB Wealth increased its holdings in Edison International by 1.5% during the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after purchasing an additional 218 shares in the last quarter. Private Advisor Group LLC increased its holdings in Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock valued at $1,047,000 after purchasing an additional 254 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its position in Edison International by 11.5% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after purchasing an additional 281 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Edison International Trading Up 0.5%

Shares of EIX stock traded up $0.26 during trading hours on Friday, reaching $52.38. The company had a trading volume of 2,069,111 shares, compared to its average volume of 4,488,929. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. 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 firm has a market cap of $20.15 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 1.22 and a beta of 0.75. The company has a 50 day moving average of $51.99 and a 200 day moving average of $54.57.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.3%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.