Oppenheimer & Co. Inc. Grows Holdings in Edison International (NYSE:EIX)

Oppenheimer & Co. Inc. boosted its stake in Edison International (NYSE:EIX - Free Report) by 98.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,982 shares of the utilities provider's stock after purchasing an additional 5,454 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Edison International were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of EIX. Whittier Trust Co. raised its position in shares of Edison International by 4.9% during the 4th quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider's stock valued at $343,000 after buying an additional 200 shares in the last quarter. FSB Premier Wealth Management Inc. lifted its stake in Edison International by 5.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock worth $352,000 after purchasing an additional 217 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Edison International by 0.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 218 shares in the last quarter. KWB Wealth increased its position in shares of Edison International by 1.5% during the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after purchasing an additional 218 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Edison International by 27.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,115 shares of the utilities provider's stock valued at $89,000 after buying an additional 243 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays lifted their target price on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Morgan Stanley cut their price target on shares of 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 reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.82.

Edison International Trading Up 0.0%

Shares of EIX traded up $0.01 during mid-day trading on Friday, hitting $52.57. 2,920,079 shares of the company's stock traded hands, compared to its average volume of 3,317,305. 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 market capitalization of $20.23 billion, a P/E ratio of 7.46, a PEG ratio of 1.23 and a beta of 0.75. The business's 50-day moving average price is $54.00 and its 200-day moving average price is $58.03. 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 issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. As a group, sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.30%. Edison International's payout ratio is 46.95%.

About Edison International

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.