Checchi Capital Advisers LLC bought a new position in Edison International (NYSE:EIX) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,252 shares of the utilities provider’s stock, valued at approximately $201,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Enlightenment Research LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $28,000. Essex Investment Management Co. LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $28,000. Liberty Wealth Management LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $29,000. Rehmann Capital Advisory Group boosted its stake in shares of Edison International by 57.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock worth $31,000 after buying an additional 199 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Edison International in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.
Edison International stock opened at $60.89 on Friday. Edison International has a 12 month low of $45.50 and a 12 month high of $71.00. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $19.84 billion, a P/E ratio of 14.67, a PEG ratio of 2.51 and a beta of -0.05.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.25). Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $0.80 EPS. Edison International’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Edison International will post 4.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a dividend of $0.6125 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.45 dividend on an annualized basis and a yield of 4.02%. Edison International’s payout ratio is 59.04%.
A number of brokerages have recently weighed in on EIX. Morgan Stanley boosted their target price on Edison International from $83.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Barclays cut their target price on Edison International from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 14th. Wolfe Research upgraded Edison International from a “peer perform” rating to an “outperform” rating in a research note on Monday, May 6th. Zacks Investment Research upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Co upped their price objective on Edison International from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.59.
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Edison International Company Profile
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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