M&T Bank Corp Sells 3,934 Shares of Edison International (NYSE:EIX)

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M&T Bank Corp lessened its position in Edison International (NYSE:EIX) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,897 shares of the utilities provider’s stock after selling 3,934 shares during the period. M&T Bank Corp’s holdings in Edison International were worth $1,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. IFP Advisors Inc grew its holdings in Edison International by 3.8% in the 3rd quarter. IFP Advisors Inc now owns 5,032 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 183 shares during the last quarter. Sun Life Financial INC lifted its position in shares of Edison International by 2.6% in the 2nd quarter. Sun Life Financial INC now owns 7,578 shares of the utilities provider’s stock worth $412,000 after purchasing an additional 189 shares during the period. Berman Capital Advisors LLC lifted its position in shares of Edison International by 68.3% in the 3rd quarter. Berman Capital Advisors LLC now owns 510 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 207 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Edison International by 2.9% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 8,278 shares of the utilities provider’s stock worth $421,000 after purchasing an additional 235 shares during the period. Finally, Balentine LLC lifted its position in shares of Edison International by 91.7% in the 2nd quarter. Balentine LLC now owns 510 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 244 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of EIX stock opened at $64.54 on Thursday. The company has a 50 day moving average price of $57.75 and a 200-day moving average price of $55.77. Edison International has a 52 week low of $43.63 and a 52 week high of $78.93. The firm has a market capitalization of $24.43 billion, a PE ratio of 65.19, a P/E/G ratio of 4.14 and a beta of 0.48. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.21.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. Edison International had a net margin of 3.23% and a return on equity of 10.57%. During the same period last year, the firm earned $1.50 earnings per share. Analysts anticipate that Edison International will post 4.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, September 30th were given a dividend of $0.6375 per share. The ex-dividend date was Tuesday, September 29th. This represents a $2.55 annualized dividend and a yield of 3.95%. Edison International’s dividend payout ratio (DPR) is 54.26%.

EIX has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Edison International from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Barclays raised their target price on shares of Edison International from $57.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating and set a $63.00 target price for the company in a research report on Thursday, October 22nd. Mizuho dropped their target price on shares of Edison International from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Edison International in a research report on Tuesday, August 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Edison International currently has a consensus rating of “Buy” and a consensus price target of $70.27.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. The company generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

Read More: How Do Front-End Loads Impact an Investment?

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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