Huntington National Bank Raises Holdings in Edison International (NYSE:EIX)

Huntington National Bank increased its stake in Edison International (NYSE:EIX) by 7.0% in the fourth quarter, Holdings Channel reports. The firm owned 5,366 shares of the utilities provider’s stock after purchasing an additional 353 shares during the period. Huntington National Bank’s holdings in Edison International were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of EIX. Massachusetts Financial Services Co. MA lifted its stake in shares of Edison International by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock worth $409,865,000 after buying an additional 50,451 shares during the period. RFG Bristol Wealth Advisors LLC purchased a new stake in Edison International during the 4th quarter valued at about $457,000. Geode Capital Management LLC increased its holdings in shares of Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after purchasing an additional 362,999 shares during the period. National Bank of Canada FI raised its stake in shares of Edison International by 207.9% in the fourth quarter. National Bank of Canada FI now owns 698,939 shares of the utilities provider’s stock worth $55,807,000 after purchasing an additional 471,968 shares during the last quarter. Finally, FSB Premier Wealth Management Inc. lifted its holdings in shares of Edison International by 5.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 6.3 %

EIX stock opened at $54.71 on Friday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a 50-day simple moving average of $54.84 and a 200-day simple moving average of $71.65. The stock has a market capitalization of $21.06 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 6.05%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Barclays cut their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

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.