Bank of Nova Scotia reduced its stake in shares of Edison International (NYSE:EIX – Get Rating) by 31.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,481 shares of the utilities provider’s stock after selling 15,545 shares during the quarter. Bank of Nova Scotia’s holdings in Edison International were worth $2,118,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. San Luis Wealth Advisors LLC purchased a new position in Edison International during the first quarter valued at approximately $25,000. Prospera Financial Services Inc purchased a new position in Edison International during the first quarter valued at approximately $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Edison International by 128.5% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 457 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 257 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new position in Edison International during the first quarter valued at approximately $34,000. Finally, Silvant Capital Management LLC purchased a new position in Edison International during the first quarter valued at approximately $39,000. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. Mizuho dropped their price objective on Edison International from $71.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. JPMorgan Chase & Co. dropped their price objective on Edison International from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th. StockNews.com lowered Edison International from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. Guggenheim dropped their price objective on Edison International from $82.00 to $66.00 in a report on Monday, October 24th. Finally, Morgan Stanley raised their price objective on Edison International from $49.00 to $54.00 and gave the company an “underweight” rating in a report on Friday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus price target of $68.00.
Edison International Stock Performance
Edison International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Thursday, September 29th. Edison International’s dividend payout ratio (DPR) is currently 148.15%.
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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