Empirical Finance LLC grew its holdings in Edison International (NYSE:EIX – Free Report) by 71.2% during the second quarter, Holdings Channel.com reports. The firm owned 22,398 shares of the utilities provider’s stock after acquiring an additional 9,315 shares during the period. Empirical Finance LLC’s holdings in Edison International were worth $1,668,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of EIX. Avior Wealth Management LLC raised its holdings in shares of Edison International by 4.7% in the second quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock valued at $220,000 after buying an additional 134 shares during the last quarter. Equitable Trust Co. lifted its position in Edison International by 0.8% during the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock worth $1,435,000 after buying an additional 148 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 155 shares during the last quarter. UMB Bank n.a. grew its holdings in Edison International by 5.3% during the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock worth $190,000 after acquiring an additional 159 shares during the last quarter. Finally, Paladin Wealth LLC increased its position in Edison International by 6.3% in the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
Edison International Price Performance
Shares of EIX stock opened at $59.27 on Wednesday. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 2.29 and a beta of 0.62. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average price of $71.86 and a 200 day moving average price of $71.79.
Edison International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.9%. Edison International’s payout ratio is presently 36.19%.
Analyst Ratings Changes
A number of equities analysts have weighed in on EIX shares. Barclays reaffirmed an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Morgan Stanley decreased their price target on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Argus reissued a “hold” rating on shares of Edison International in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Finally, Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $81.00 to $51.00 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Reduce” and an average target price of $64.55.
Read Our Latest Research Report on Edison International
Edison International Company Profile
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
Featured Stories
- Five stocks we like better than Edison International
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
