Van ECK Associates Corp Has $6.13 Million Holdings in Edison International (NYSE:EIX)

Van ECK Associates Corp decreased its position in shares of Edison International (NYSE:EIX) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,712 shares of the utilities provider’s stock after selling 2,734 shares during the quarter. Van ECK Associates Corp’s holdings in Edison International were worth $6,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. PGGM Investments increased its stake in shares of Edison International by 7.7% in the fourth quarter. PGGM Investments now owns 15,481 shares of the utilities provider’s stock valued at $1,107,000 after buying an additional 1,105 shares during the period. Leisure Capital Management bought a new position in Edison International during the fourth quarter worth $222,000. Russell Investments Group Ltd. lifted its stake in shares of Edison International by 20.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,006,796 shares of the utilities provider’s stock valued at $72,001,000 after purchasing an additional 168,609 shares during the period. Truist Financial Corp lifted its stake in Edison International by 3.1% in the fourth quarter. Truist Financial Corp now owns 82,980 shares of the utilities provider’s stock valued at $5,932,000 after buying an additional 2,483 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Edison International by 3.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 18,811 shares of the utilities provider’s stock valued at $1,347,000 after acquiring an additional 572 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 0.5 %

NYSE EIX opened at $72.34 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 2.04. The business has a fifty day simple moving average of $69.41 and a 200 day simple moving average of $67.93. Edison International has a 12 month low of $58.82 and a 12 month high of $74.40. The firm has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts predict that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.78 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.31%. Edison International’s payout ratio is presently 136.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EIX shares. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Barclays upped their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and an average price target of $72.78.

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.