Toroso Investments LLC lifted its position in Edison International (NYSE:EIX – Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,703 shares of the utilities provider’s stock after buying an additional 1,038 shares during the period. Toroso Investments LLC’s holdings in Edison International were worth $1,038,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in EIX. Arete Wealth Advisors LLC acquired a new stake in shares of Edison International during the first quarter worth about $321,000. Ameriprise Financial Inc. increased its stake in Edison International by 227.8% during the 1st quarter. Ameriprise Financial Inc. now owns 806,721 shares of the utilities provider’s stock worth $56,979,000 after purchasing an additional 560,630 shares in the last quarter. HNP Capital LLC acquired a new stake in Edison International during the 1st quarter worth approximately $212,000. Harvest Portfolios Group Inc. lifted its stake in Edison International by 3.1% in the first quarter. Harvest Portfolios Group Inc. now owns 59,045 shares of the utilities provider’s stock valued at $4,168,000 after buying an additional 1,792 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Edison International by 6.6% in the first quarter. Rockefeller Capital Management L.P. now owns 108,278 shares of the utilities provider’s stock valued at $7,643,000 after buying an additional 6,688 shares during the period. Institutional investors and hedge funds own 88.17% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on EIX. Royal Bank of Canada restated an “outperform” rating and set a $81.00 price objective on shares of Edison International in a report on Tuesday, September 12th. Barclays initiated coverage on Edison International in a research report on Wednesday, August 23rd. They set an “equal weight” rating and a $68.00 price objective for the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Friday, July 7th. StockNews.com started coverage on Edison International in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $56.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.91.
Edison International Stock Performance
NYSE EIX opened at $71.22 on Tuesday. The firm has a market capitalization of $27.30 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.81. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 1.87. The firm’s fifty day moving average price is $70.13 and its two-hundred day moving average price is $69.86. Edison International has a 1 year low of $54.45 and a 1 year high of $74.92.
Edison International (NYSE:EIX – Get Free Report) last issued its earnings results on Thursday, July 27th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Edison International had a net margin of 6.81% and a return on equity of 12.69%. Edison International’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. As a group, research analysts anticipate that Edison International will post 4.72 EPS for the current year.
Edison International Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.7375 dividend. This represents a $2.95 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, September 28th. Edison International’s payout ratio is presently 118.95%.
Edison International Profile
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
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