5,952 Shares in Edison International (NYSE:EIX) Acquired by SYM FINANCIAL Corp

SYM FINANCIAL Corp bought a new position in shares of Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,952 shares of the utilities provider's stock, valued at approximately $351,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of Edison International by 4,633.3% during the 1st 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 period. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International in the 1st quarter worth $25,000. Bellwether Advisors LLC bought a new stake in Edison International during the fourth quarter worth about $34,000. Mizuho Bank Ltd. bought a new stake in Edison International during the fourth quarter worth about $50,000. Finally, Versant Capital Management Inc raised its holdings in Edison International by 96.7% in the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after buying an additional 433 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on EIX shares. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. cut their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Barclays upped their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley dropped their target price 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 analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.35.

Edison International Stock Up 3.0%

Shares of EIX stock traded up $1.53 during trading hours on Friday, reaching $52.95. 4,214,949 shares of the stock were exchanged, compared to its average volume of 3,632,440. The firm has a market capitalization of $20.37 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.25 and a beta of 0.75. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The business's fifty day moving average is $52.40 and its two-hundred day moving average is $54.83. 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 (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, beating analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. As a group, research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio is currently 46.95%.

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.