Ontario Teachers Pension Plan Board increased its position in shares of Edison International (NYSE:EIX – Free Report) by 270.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,015 shares of the utilities provider’s stock after acquiring an additional 40,898 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Edison International were worth $3,954,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of EIX. Capital Analysts LLC grew its position in Edison International by 64.0% during the 1st quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 171 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Edison International during the 1st quarter worth approximately $41,000. First Horizon Advisors Inc. grew its position in Edison International by 61.4% during the 1st quarter. First Horizon Advisors Inc. now owns 615 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 234 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Edison International in the 3rd quarter valued at $50,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Edison International by 112.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 797 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 422 shares during the period. Hedge funds and other institutional investors own 88.17% of the company’s stock.
Edison International Trading Up 1.0 %
EIX stock traded up $0.69 during trading on Wednesday, reaching $70.98. 948,064 shares of the stock were exchanged, compared to its average volume of 1,679,201. Edison International has a 1 year low of $54.45 and a 1 year high of $74.92. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.94 and a beta of 0.81. The business has a 50 day moving average price of $70.02 and a 200-day moving average price of $69.75. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 1.87.
Edison International (NYSE:EIX – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Edison International had a net margin of 6.81% and a return on equity of 12.69%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts predict that Edison International will post 4.73 earnings per share for the current year.
Edison International Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.7375 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.95 dividend on an annualized basis and a yield of 4.16%. Edison International’s dividend payout ratio is currently 118.95%.
Analyst Upgrades and Downgrades
EIX has been the subject of several analyst reports. Barclays initiated coverage on shares of Edison International in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $68.00 target price for the company. StockNews.com initiated coverage on shares of Edison International in a report on Thursday, August 17th. They set a “hold” rating on the stock. Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $73.00 to $75.00 in a report on Tuesday, August 22nd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Friday, July 7th. Finally, Morgan Stanley decreased 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.91.
Check Out Our Latest Stock Report on Edison International
About Edison International
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.
See Also
Receive News & Ratings for Edison International Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Edison International and related companies with MarketBeat.com’s FREE daily email newsletter.