Signaturefd LLC boosted its position in shares of Edison International (NYSE:EIX) by 95.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,521 shares of the utilities provider’s stock after acquiring an additional 744 shares during the period. Signaturefd LLC’s holdings in Edison International were worth $115,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its stake in Edison International by 12.6% during the second quarter. Captrust Financial Advisors now owns 3,084 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 345 shares during the period. GAM Holding AG increased its stake in 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 during the period. Daiwa Securities Group Inc. increased its stake in Edison International by 10.0% during the second quarter. Daiwa Securities Group Inc. now owns 92,247 shares of the utilities provider’s stock valued at $6,218,000 after acquiring an additional 8,350 shares during the period. Banco de Sabadell S.A bought a new position in Edison International during the second quarter valued at about $291,000. Finally, Eastern Bank bought a new position in Edison International during the second quarter valued at about $201,000. Hedge funds and other institutional investors own 77.93% of the company’s stock.
Several equities analysts recently issued reports on EIX shares. UBS Group boosted their price target on Edison International from $77.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Morgan Stanley boosted their price target on Edison International from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, August 16th. SunTrust Banks boosted their price target on Edison International from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Citigroup reaffirmed a “buy” rating and set a $81.00 price objective (up from $78.00) on shares of Edison International in a report on Wednesday, September 18th. Finally, Mizuho decreased their price objective on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.09.
NYSE EIX opened at $70.52 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average is $72.90 and its two-hundred day moving average is $67.56. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.85 and a beta of 0.10. Edison International has a 1-year low of $45.50 and a 1-year high of $76.45.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.43. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.15 billion. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. During the same period in the previous year, the business earned $0.85 earnings per share. On average, analysts predict that Edison International will post 4.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.613 per share. This represents a $2.45 dividend on an annualized basis and a yield of 3.48%. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, September 27th. Edison International’s payout ratio is presently 59.04%.
About Edison International
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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