Fifth Third Bancorp lifted its holdings in Edison International (NYSE:EIX – Free Report) by 236.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,108 shares of the utilities provider’s stock after acquiring an additional 44,343 shares during the period. Fifth Third Bancorp’s holdings in Edison International were worth $4,618,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in EIX. Jones Financial Companies Lllp raised its position in Edison International by 112.9% in the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after purchasing an additional 5,190 shares during the period. Empowered Funds LLC grew its stake in shares of Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after buying an additional 211 shares in the last quarter. Woodline Partners LP grew its stake in shares of Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after buying an additional 9,459 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Edison International by 153.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after buying an additional 5,290 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in shares of Edison International during the 2nd quarter valued at about $302,000. Institutional investors and hedge funds own 88.95% of the company’s stock.
Edison International Trading Down 0.6%
NYSE EIX opened at $77.58 on Friday. Edison International has a 12 month low of $50.85 and a 12 month high of $79.88. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68. The company has a market capitalization of $29.85 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66. The company’s fifty day moving average price is $72.71 and its two-hundred day moving average price is $69.73.
Edison International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. Edison International’s dividend payout ratio is 38.11%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on EIX shares. Bank of America decreased their price target on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Truist Financial reduced their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Barclays raised their price target on shares of Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company reaffirmed an “underweight” rating and set a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.73.
Get Our Latest Analysis 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.
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