Pinkerton Retirement Specialists LLC Raises Stock Holdings in Edison International (NYSE:EIX)

Pinkerton Retirement Specialists LLC raised its position in Edison International (NYSE:EIX - Free Report) by 18.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,432 shares of the utilities provider's stock after buying an additional 10,934 shares during the quarter. Pinkerton Retirement Specialists LLC's holdings in Edison International were worth $4,209,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Edison International during the 1st quarter valued at $213,000. Sigma Planning Corp boosted its position in Edison International by 18.5% during the 1st quarter. Sigma Planning Corp now owns 3,840 shares of the utilities provider's stock worth $226,000 after buying an additional 600 shares during the period. Signaturefd LLC grew its position in shares of Edison International by 136.9% in the 1st quarter. Signaturefd LLC now owns 6,715 shares of the utilities provider's stock valued at $396,000 after buying an additional 3,880 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Edison International by 41.4% during the 1st quarter. Edgestream Partners L.P. now owns 141,947 shares of the utilities provider's stock valued at $8,364,000 after purchasing an additional 41,537 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in Edison International by 6.0% in the first quarter. Marks Group Wealth Management Inc now owns 25,087 shares of the utilities provider's stock valued at $1,478,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley decreased their target price 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. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. lowered their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Barclays increased their target price on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. 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's stock. Based on data from MarketBeat.com, Edison International has a consensus rating of "Moderate Buy" and an average price target of $76.82.

Edison International Trading Down 1.0%

Edison International stock traded down $0.49 during mid-day trading on Tuesday, reaching $50.47. 2,783,339 shares of the company traded hands, compared to its average volume of 3,384,550. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.19 and a beta of 0.75. The firm's 50 day moving average price is $53.30 and its 200 day moving average price is $56.33.

Edison International (NYSE:EIX - Get Free Report) last posted 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. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Edison International's quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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 dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.56%. Edison International's 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.