Sharpepoint LLC Invests $1.20 Million in Edison International (NYSE:EIX)

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

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. increased its stake in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in Edison International in the first quarter valued at $25,000. Bellwether Advisors LLC bought a new position in Edison International in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Edison International during the fourth quarter valued at about $44,000. Finally, Mizuho Bank Ltd. purchased a new stake in Edison International during the fourth quarter valued at about $50,000. Institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Edison International stock opened at $50.64 on Thursday. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75. 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 1 year low of $47.73 and a 1 year high of $88.77. The firm has a 50-day moving average of $53.52 and a two-hundred day moving average of $57.26.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share 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 firm had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The company's revenue was down 6.5% compared to the same quarter last year. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.54%. Edison International's dividend payout ratio is currently 46.95%.

Analysts Set New Price Targets

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

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.

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