Capital International Sarl Buys New Stake in Edison International (NYSE:EIX)

Capital International Sarl bought a new stake in shares of Edison International (NYSE:EIXGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,919 shares of the utilities provider’s stock, valued at approximately $4,901,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in shares of Edison International by 19.6% in the fourth quarter. HighTower Advisors LLC now owns 35,279 shares of the utilities provider’s stock worth $2,404,000 after buying an additional 5,772 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Edison International during the fourth quarter worth $854,000. Rhumbline Advisers raised its holdings in shares of Edison International by 0.6% during the fourth quarter. Rhumbline Advisers now owns 577,764 shares of the utilities provider’s stock worth $39,432,000 after purchasing an additional 3,450 shares during the last quarter. Covestor Ltd purchased a new position in shares of Edison International during the fourth quarter worth $52,000. Finally, Private Advisor Group LLC raised its holdings in shares of Edison International by 6.9% during the fourth quarter. Private Advisor Group LLC now owns 14,137 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI reduced their target price on shares of Edison International to $71.00 in a report on Tuesday, August 9th. Morgan Stanley cut shares of Edison International from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Barclays dropped their price target on shares of Edison International from $73.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. UBS Group dropped their price target on shares of Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 30th. Finally, Mizuho dropped their price target on shares of Edison International from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.44.

Edison International Stock Up 0.9 %

Shares of NYSE EIX opened at $69.49 on Thursday. The company’s 50-day simple moving average is $66.80 and its 200-day simple moving average is $67.04. Edison International has a 52-week low of $54.98 and a 52-week high of $73.32. The firm has a market cap of $26.51 billion, a price-to-earnings ratio of 52.64, a price-to-earnings-growth ratio of 5.25 and a beta of 0.67. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.60.

Edison International (NYSE:EIXGet Rating) last announced its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts predict that Edison International will post 4.43 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. Edison International’s payout ratio is presently 212.12%.

Edison International Company Profile

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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