Signaturefd LLC bought a new position in shares of Edison International (NYSE:EIX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,606 shares of the utilities provider’s stock, valued at approximately $102,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its holdings in Edison International by 3.2% during the fourth quarter. LS Investment Advisors LLC now owns 29,134 shares of the utilities provider’s stock worth $1,842,000 after acquiring an additional 917 shares in the last quarter. Advisor Partners LLC raised its stake in Edison International by 15.2% in the first quarter. Advisor Partners LLC now owns 6,963 shares of the utilities provider’s stock valued at $443,000 after buying an additional 917 shares during the period. New Mexico Educational Retirement Board raised its stake in Edison International by 3.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 31,302 shares of the utilities provider’s stock valued at $1,980,000 after buying an additional 1,000 shares during the period. MUFG Americas Holdings Corp raised its stake in Edison International by 1.4% in the first quarter. MUFG Americas Holdings Corp now owns 72,813 shares of the utilities provider’s stock valued at $4,636,000 after buying an additional 1,026 shares during the period. Finally, US Bancorp DE raised its stake in Edison International by 1.3% in the fourth quarter. US Bancorp DE now owns 86,215 shares of the utilities provider’s stock valued at $5,452,000 after buying an additional 1,119 shares during the period. Institutional investors and hedge funds own 81.78% of the company’s stock.
Several analysts have issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $69.00 price objective (down previously from $72.00) on shares of Edison International in a research note on Thursday, March 8th. Edward Jones upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Thursday, April 5th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Citigroup upped their price objective on Edison International from $66.00 to $72.00 and gave the company a “hold” rating in a research note on Tuesday, May 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Edison International in a research note on Wednesday, March 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.92.
Shares of NYSE EIX opened at $61.88 on Wednesday. The company has a market cap of $20.06 billion, a PE ratio of 13.75, a PEG ratio of 2.65 and a beta of 0.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.59 and a current ratio of 0.64. Edison International has a 1-year low of $57.63 and a 1-year high of $83.38.
Edison International (NYSE:EIX) last announced its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.11). The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. Edison International had a return on equity of 10.22% and a net margin of 4.38%. Edison International’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. equities research analysts predict that Edison International will post 4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Thursday, March 29th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.91%. Edison International’s dividend payout ratio (DPR) is currently 53.78%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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