Amalgamated Bank cut its holdings in Edison International (NYSE:EIX – Get Rating) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,601 shares of the utilities provider’s stock after selling 6,784 shares during the quarter. Amalgamated Bank’s holdings in Edison International were worth $6,632,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Godsey & Gibb Associates acquired a new stake in Edison International during the first quarter worth approximately $25,000. San Luis Wealth Advisors LLC acquired a new stake in Edison International during the first quarter worth approximately $25,000. Prospera Financial Services Inc acquired a new stake in Edison International during the first quarter worth approximately $27,000. CVA Family Office LLC boosted its position in Edison International by 144.7% during the first quarter. CVA Family Office LLC now owns 465 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in Edison International during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 87.21% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Morgan Stanley lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $62.00 in a research report on Tuesday, September 6th. Bank of America reaffirmed an “underperform” rating on shares of Edison International in a research note on Thursday, July 14th. Evercore ISI cut their price target on shares of Edison International to $71.00 in a research note on Tuesday, August 9th. UBS Group cut 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 note on Thursday, June 30th. Finally, Barclays cut 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 note on Monday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.44.
Edison International Stock Performance
Edison International (NYSE:EIX – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.57 billion. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. On average, research analysts forecast that Edison International will post 4.43 EPS for the current fiscal year.
Edison International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, September 29th. Edison International’s dividend payout ratio is currently 212.12%.
About Edison International
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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