Edison International (NYSE:EIX) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its holdings in Edison International by 15.5% during Q1, owning 30,999 shares worth approximately $1.83 million after selling 5,694 shares.
• Multiple institutional investors have recently increased their stakes in Edison International, with Rakuten Securities boosting its position by 4,633.3%.
• Edison International reported $0.97 earnings per share for the latest quarter, exceeding analysts' expectations, and announced a recent dividend with a yield of 6.0%.

Mizuho Securities USA LLC lessened its position in shares of Edison International (NYSE:EIX - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,999 shares of the utilities provider's stock after selling 5,694 shares during the quarter. Mizuho Securities USA LLC's holdings in Edison International were worth $1,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its position in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the first quarter valued at approximately $25,000. Investment Management Corp VA ADV raised its position in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares during the period. Bellwether Advisors LLC purchased a new stake in Edison International in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Edison International in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EIX. Morgan Stanley cut their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Barclays boosted their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.21.

Edison International Stock Performance

Shares of NYSE:EIX traded down $0.51 on Friday, reaching $55.51. The company's stock had a trading volume of 2,146,547 shares, compared to its average volume of 3,800,672. The stock's 50-day moving average is $51.91 and its two-hundred day moving average is $54.22. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a market capitalization of $21.36 billion, a P/E ratio of 8.15, a PEG ratio of 1.32 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio is currently 48.60%.

Edison International Company 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.