Nuveen LLC Purchases New Shares in Edison International (NYSE:EIX)

Key Points

• Nuveen LLC acquired a new stake in Edison International, purchasing over 1 million shares valued at approximately $61.92 million, giving it a 0.27% ownership in the company.
• Edison International reported an earnings per share (EPS) of $0.97 for the last quarter, exceeding analysts' expectations of $0.88, and its revenue increased by 4.8% year-over-year.
• The utility company's recently announced quarterly dividend was $0.8275 per share, resulting in an annualized payout of $3.31 and a dividend yield of 5.9%.

Nuveen LLC purchased a new stake in Edison International (NYSE:EIX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,050,854 shares of the utilities provider's stock, valued at approximately $61,916,000. Nuveen LLC owned 0.27% of Edison International as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Entropy Technologies LP grew its stake in Edison International by 43.9% in the 1st quarter. Entropy Technologies LP now owns 90,539 shares of the utilities provider's stock valued at $5,335,000 after acquiring an additional 27,623 shares during the period. Invesco Ltd. lifted its holdings in Edison International by 19.8% in the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after purchasing an additional 953,897 shares in the last quarter. Covestor Ltd lifted its holdings in Edison International by 1,003.0% in the 1st quarter. Covestor Ltd now owns 3,276 shares of the utilities provider's stock valued at $193,000 after purchasing an additional 2,979 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after purchasing an additional 2,987,318 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in Edison International by 471.7% in the 1st quarter. Frank Rimerman Advisors LLC now owns 18,546 shares of the utilities provider's stock valued at $1,093,000 after purchasing an additional 15,302 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Up 0.5%

NYSE EIX opened at $56.26 on Thursday. The business's fifty day simple moving average is $51.82 and its 200-day simple moving average is $54.24. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $21.65 billion, a PE ratio of 8.26, a P/E/G ratio of 1.32 and a beta of 0.75. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. 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 report on Wednesday, June 18th. Finally, Barclays raised their price objective on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.19.

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.

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.