Edison International (NYSE:EIX) Stock Holdings Reduced by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its holdings in Edison International by 7.0%, owning 81,771 shares valued at approximately $4.82 million.
• Edison International reported $1.37 EPS for the quarter, exceeding estimates by $0.16, though quarterly revenue decreased by 6.5% year-over-year.
• The company announced a quarterly dividend of $0.8275 per share, translating to an annual yield of 6.25% with a payout ratio of 46.95%.

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Edison International (NYSE:EIX - Free Report) by 7.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 81,771 shares of the utilities provider's stock after selling 6,174 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Edison International were worth $4,818,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its position in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International in the 1st quarter worth $25,000. Bellwether Advisors LLC bought a new stake in shares of Edison International in the 4th quarter worth $34,000. Mizuho Bank Ltd. bought a new stake in shares of Edison International in the 4th quarter worth $50,000. Finally, Versant Capital Management Inc raised its stake in shares of Edison International by 96.7% in the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after buying an additional 433 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 0.1%

Shares of EIX stock traded down $0.04 on Thursday, reaching $51.65. 1,763,569 shares of the company's stock traded hands, compared to its average volume of 4,467,177. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. 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 company has a market capitalization of $19.87 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The business's 50 day moving average price is $52.07 and its two-hundred day moving average price is $54.60.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Edison International's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm 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 of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.41%. Edison International's dividend payout ratio is 46.95%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research reports. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Barclays boosted their price objective on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley dropped their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. Finally, Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.35.

Edison International 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.