MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Edison International (NYSE:EIX - Free Report) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,807 shares of the utilities provider's stock after purchasing an additional 17,044 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Edison International were worth $5,093,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Edison International in the 4th quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Edison International in the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. grew its stake in Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 311 shares during the period. Bellwether Advisors LLC bought a new stake in shares of Edison International in the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Edison International during the fourth quarter worth about $38,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International Trading Up 1.8%
Edison International stock opened at $58.62 on Monday. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.07 and a beta of 0.77. The firm has a 50-day moving average of $56.81 and a 200-day moving average of $65.07. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $49.06 and a one year high of $88.77.
Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were issued a dividend of $0.8275 per share. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.65%. Edison International's payout ratio is 46.95%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EIX. The Goldman Sachs Group decreased their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and cut their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.96.
Check Out Our Latest Analysis on EIX
About Edison International
(
Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Edison International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edison International wasn't on the list.
While Edison International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
