Surience Private Wealth LLC Purchases New Stake in Edison International (NYSE:EIX)

Surience Private Wealth LLC purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,276 shares of the utilities provider's stock, valued at approximately $605,000. Edison International comprises approximately 1.1% of Surience Private Wealth LLC's investment portfolio, making the stock its 16th largest holding.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Edison International during the fourth quarter worth approximately $323,443,000. Canada Pension Plan Investment Board raised its stake in Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after purchasing an additional 2,643,571 shares during the last quarter. Northern Trust Corp boosted its holdings in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the period. Ameriprise Financial Inc. boosted its holdings in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after purchasing an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. grew its position in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

EIX has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective 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. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Barclays lifted their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International Price Performance

Shares of EIX traded up $1.23 during mid-day trading on Tuesday, hitting $52.83. 5,553,397 shares of the company traded hands, compared to its average volume of 3,294,367. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 1.19 and a beta of 0.78. The business has a 50-day moving average of $54.33 and a 200 day moving average of $58.30. Edison International has a one year low of $47.73 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. Edison International's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 EPS. As a group, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal 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 issued a $0.8275 dividend. 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 6.27%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.