Advisor Group Holdings Inc. acquired a new stake in shares of Edison International (NYSE:EIX) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 85,143 shares of the utilities provider’s stock, valued at approximately $2,172,000.
Other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Edison International by 0.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,093 shares of the utilities provider’s stock worth $1,741,000 after purchasing an additional 147 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Edison International by 0.3% during the 4th quarter. Mason Street Advisors LLC now owns 51,164 shares of the utilities provider’s stock valued at $3,858,000 after purchasing an additional 148 shares during the last quarter. CSat Investment Advisory L.P. grew its position in Edison International by 3.3% in the 1st quarter. CSat Investment Advisory L.P. now owns 5,433 shares of the utilities provider’s stock valued at $298,000 after acquiring an additional 176 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Edison International by 1.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 18,059 shares of the utilities provider’s stock valued at $989,000 after acquiring an additional 189 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Edison International by 18.0% in the 1st quarter. Global Retirement Partners LLC now owns 1,270 shares of the utilities provider’s stock valued at $70,000 after acquiring an additional 194 shares during the last quarter. 87.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Edison International stock opened at $54.31 on Wednesday. Edison International has a one year low of $43.63 and a one year high of $78.93. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.81 and a beta of 0.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.73 and a current ratio of 0.79. The business’s 50 day moving average price is $57.60 and its 200 day moving average price is $64.76.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.14). Edison International had a net margin of 10.15% and a return on equity of 11.33%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Edison International will post 4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.6375 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.55 dividend on an annualized basis and a dividend yield of 4.70%. Edison International’s payout ratio is presently 54.26%.
A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Edison International from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. ValuEngine cut Edison International from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. Citigroup decreased their price objective on Edison International from $93.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Bank of America upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $63.00 in a research note on Monday, May 4th. Finally, Seaport Global Securities initiated coverage on Edison International in a research note on Monday, June 15th. They issued a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.80.
Edison International Company 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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