Daiwa Securities Group Inc. raised its stake in Edison International (NYSE:EIX) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,298 shares of the utilities provider’s stock after purchasing an additional 19,051 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Edison International were worth $8,394,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Edison International by 12.6% in the second quarter. Captrust Financial Advisors now owns 3,084 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 345 shares during the period. GAM Holding AG grew its stake in shares of Edison International by 24.8% during the second quarter. GAM Holding AG now owns 4,449 shares of the utilities provider’s stock valued at $300,000 after acquiring an additional 883 shares in the last quarter. Banco de Sabadell S.A acquired a new stake in shares of Edison International during the second quarter valued at about $291,000. Eastern Bank acquired a new stake in shares of Edison International during the second quarter valued at about $201,000. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Edison International during the second quarter valued at about $2,687,000. 78.18% of the stock is currently owned by institutional investors.
EIX has been the subject of several recent analyst reports. TheStreet upgraded Edison International from a “c+” rating to a “b-” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their target price on Edison International to $79.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. They noted that the move was a valuation call. Mizuho lowered their target price on Edison International from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Wells Fargo & Co set a $73.00 target price on Edison International and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Barclays raised their target price on Edison International from $72.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.00.
NYSE:EIX traded up $0.61 during mid-day trading on Friday, reaching $66.30. The stock had a trading volume of 165,124 shares, compared to its average volume of 3,239,018. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.65 and a beta of 0.05. Edison International has a 1-year low of $45.50 and a 1-year high of $76.45. The stock’s 50 day simple moving average is $70.91 and its two-hundred day simple moving average is $67.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.78 and a quick ratio of 0.72.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $4.28 billion. Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. During the same quarter last year, the business posted $1.57 earnings per share. Sell-side analysts anticipate that Edison International will post 4.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.613 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 3.70%. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, September 27th. Edison International’s dividend payout ratio (DPR) is 59.04%.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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