Edison International (NYSE:EIX) Shares Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC increased its stake in shares of Edison International (NYSE:EIX - Free Report) by 98.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,962 shares of the utilities provider's stock after purchasing an additional 8,402 shares during the quarter. OneAscent Financial Services LLC's holdings in Edison International were worth $1,000,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Geode Capital Management LLC increased its position in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock worth $795,123,000 after acquiring an additional 362,999 shares during the period. Northern Trust Corp increased its holdings in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after buying an additional 2,016,017 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Edison International by 7.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock valued at $412,246,000 after buying an additional 371,043 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Edison International by 1.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock valued at $409,865,000 after buying an additional 50,451 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley reduced their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. reduced their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Edison International has an average rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Stock Performance

EIX traded down $0.83 during midday trading on Thursday, reaching $51.47. The company had a trading volume of 993,330 shares, compared to its average volume of 4,490,564. The company has a market cap of $19.80 billion, a P/E ratio of 7.30, a P/E/G ratio of 1.23 and a beta of 0.75. 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 business has a 50-day moving average of $52.64 and a two-hundred day moving average of $55.28. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company earned $1.13 EPS. The company's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.43%. Edison International's dividend payout ratio is presently 46.95%.

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.