Sharpepoint LLC Acquires New Holdings in Edison International (NYSE:EIX)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Edison International during the fourth quarter worth $323,443,000. Canada Pension Plan Investment Board lifted its position in shares of Edison International by 364.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after purchasing an additional 2,643,571 shares in the last quarter. Northern Trust Corp increased its stake in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Edison International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after buying an additional 1,673,204 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 worth $3,879,408,000 after buying an additional 1,559,501 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Edison International Trading Down 0.4%

Edison International stock traded down $0.22 during midday trading on Friday, hitting $51.07. 2,947,865 shares of the stock were exchanged, compared to its average volume of 3,375,268. The stock has a market capitalization of $19.65 billion, a PE ratio of 7.24, a P/E/G ratio of 1.20 and a beta of 0.75. The company has a fifty day simple moving average of $53.38 and a two-hundred day simple moving average of $56.86. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating 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 the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. The business's quarterly revenue was down 6.5% on a year-over-year basis. Equities research analysts anticipate that Edison International will post 4.95 EPS 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. Shareholders of record on Monday, July 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Monday, July 7th. Edison International's dividend payout ratio (DPR) is 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.