Infrastructure Capital Advisors LLC Decreases Stock Position in Edison International $EIX

Infrastructure Capital Advisors LLC reduced its position in Edison International (NYSE:EIX) by 69.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 7,748 shares of the utilities provider’s stock after selling 18,006 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Edison International were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Edison International by 112.9% during the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock worth $577,000 after buying an additional 5,190 shares during the period. Empowered Funds LLC increased its position in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares during the last quarter. Woodline Partners LP raised its stake in shares of Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after acquiring an additional 9,459 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 5,290 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of Edison International in the 2nd quarter worth about $302,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays boosted their target price on Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price target on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Truist Financial decreased their price target on Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Bank of America dropped their price objective on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.64.

Edison International Price Performance

Shares of EIX opened at $78.64 on Tuesday. The company has a 50 day moving average price of $73.76 and a 200-day moving average price of $70.58. Edison International has a fifty-two week low of $51.01 and a fifty-two week high of $80.90. The stock has a market capitalization of $30.26 billion, a PE ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.5%. Edison International’s dividend payout ratio (DPR) is 38.11%.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.