M&T Bank Corp Sells 439 Shares of Edison International (NYSE:EIX)

M&T Bank Corp reduced its stake in shares of Edison International (NYSE:EIX) by 1.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,272 shares of the utilities provider’s stock after selling 439 shares during the period. M&T Bank Corp’s holdings in Edison International were worth $2,236,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Bruce G. Allen Investments LLC bought a new position in Edison International during the fourth quarter valued at $27,000. WASHINGTON TRUST Co lifted its position in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 397 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Edison International in the 3rd quarter worth about $47,000. Finally, GAMMA Investing LLC purchased a new stake in Edison International in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EIX. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. Barclays lifted their price objective on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Royal Bank of Canada cut their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus price target of $72.78.

Edison International Price Performance

NYSE:EIX opened at $73.85 on Thursday. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 32.39 and a beta of 0.95. Edison International has a 52-week low of $58.82 and a 52-week high of $74.40. The stock has a fifty day moving average of $69.67 and a 200 day moving average of $68.10. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio is 136.84%.

Edison International Profile

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.