M&T Bank Corp Grows Stock Holdings in Edison International (NYSE:EIX)

M&T Bank Corp raised its position in Edison International (NYSE:EIX - Free Report) by 29.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 37,753 shares of the utilities provider's stock after acquiring an additional 8,622 shares during the period. M&T Bank Corp's holdings in Edison International were worth $2,225,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Edison International in the 4th quarter valued at $323,443,000. Canada Pension Plan Investment Board grew its holdings in Edison International by 364.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after buying an additional 2,643,571 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after purchasing an additional 1,673,204 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX stock traded down $0.49 during mid-day trading on Tuesday, hitting $50.47. 2,748,123 shares of the stock were exchanged, compared to its average volume of 3,377,062. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. The firm has a fifty day moving average of $53.30 and a 200 day moving average of $56.33. The company has a market cap of $19.42 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion during 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%. Edison International's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.56%. Edison International's payout ratio is currently 46.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EIX shares. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley reduced their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Finally, Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.