Edison International (NYSE:EIX) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC raised its holdings in shares of Edison International (NYSE:EIX) by 25.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 226,523 shares of the utilities provider’s stock after buying an additional 45,926 shares during the period. AE Wealth Management LLC owned about 0.06% of Edison International worth $13,347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Triumph Capital Management increased its stake in shares of Edison International by 5.5% in the first quarter. Triumph Capital Management now owns 5,592 shares of the utilities provider’s stock worth $329,000 after acquiring an additional 293 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in Edison International in the 1st quarter worth about $351,000. Readystate Asset Management LP acquired a new position in Edison International in the first quarter worth approximately $1,157,000. Old Port Advisors increased its holdings in Edison International by 2.9% in the first quarter. Old Port Advisors now owns 19,852 shares of the utilities provider’s stock worth $1,170,000 after buying an additional 560 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in shares of Edison International by 1.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 297,977 shares of the utilities provider’s stock worth $17,557,000 after purchasing an additional 3,600 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Morgan Stanley reduced their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 18th. Evercore ISI restated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Trading Up 0.5%

Shares of EIX stock opened at $52.29 on Thursday. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.23 and a beta of 0.75. The stock has a 50-day moving average of $52.64 and a 200-day moving average of $55.28. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. Edison International’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.33%. Edison International’s payout ratio is 46.95%.

Edison International Company 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.