Talon Private Wealth LLC purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,299 shares of the utilities provider's stock, valued at approximately $423,000.
A number of other large investors have also added to or reduced their stakes in EIX. Norges Bank purchased a new position in shares of Edison International during the 4th quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board boosted 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 acquiring an additional 2,643,571 shares during the last quarter. Northern Trust Corp grew its holdings in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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. Finally, Invesco Ltd. raised its stake in shares of Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock valued at $384,560,000 after purchasing an additional 1,331,941 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
EIX has been the subject of a number of research reports. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Barclays raised 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. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.96.
Check Out Our Latest Report on Edison International
Edison International Stock Performance
EIX stock traded up $0.36 on Friday, reaching $54.92. The company's stock had a trading volume of 3,164,711 shares, compared to its average volume of 3,002,200. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $21.15 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The firm has a fifty day moving average of $56.51 and a two-hundred day moving average of $67.16.
Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. As a group, analysts predict that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.03%. The ex-dividend date was Monday, April 7th. Edison International's dividend payout ratio is presently 46.95%.
Edison International Profile
(
Free Report)
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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