Sharpepoint LLC Purchases Shares of 20,364 Edison International (NYSE:EIX)

Sharpepoint LLC acquired a new position in Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,364 shares of the utilities provider's stock, valued at approximately $1,196,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rakuten Securities Inc. raised its holdings in shares of Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after buying an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International during the first quarter worth about $25,000. Bellwether Advisors LLC acquired a new stake in shares of Edison International during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Edison International in the fourth quarter valued at approximately $44,000. Finally, Mizuho Bank Ltd. purchased a new position in Edison International in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

Edison International stock traded up $0.68 during midday trading on Thursday, reaching $51.31. 3,849,612 shares of the company were exchanged, compared to its average volume of 3,368,206. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 1.18 and a beta of 0.75. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. The firm's 50-day simple moving average is $53.52 and its 200-day simple moving average is $57.26. 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 results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The business 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%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio is currently 46.95%.

Analysts Set New Price Targets

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

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.