MML Investors Services LLC grew its stake in Edison International (NYSE:EIX – Get Rating) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,680 shares of the utilities provider’s stock after buying an additional 4,273 shares during the period. MML Investors Services LLC’s holdings in Edison International were worth $2,302,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. AXA S.A. increased its position in shares of Edison International by 46.5% during the third quarter. AXA S.A. now owns 162,125 shares of the utilities provider’s stock worth $9,174,000 after buying an additional 51,424 shares during the period. FORA Capital LLC acquired a new stake in Edison International during the 3rd quarter worth about $1,440,000. Hsbc Holdings PLC grew its holdings in Edison International by 50.0% during the 3rd quarter. Hsbc Holdings PLC now owns 586,360 shares of the utilities provider’s stock worth $33,622,000 after acquiring an additional 195,582 shares during the period. Prudential PLC grew its holdings in Edison International by 13.0% during the 3rd quarter. Prudential PLC now owns 11,516 shares of the utilities provider’s stock worth $652,000 after acquiring an additional 1,325 shares during the period. Finally, Pictet Asset Management SA grew its holdings in Edison International by 0.3% during the 3rd quarter. Pictet Asset Management SA now owns 3,413,839 shares of the utilities provider’s stock worth $193,155,000 after acquiring an additional 10,721 shares during the period. 87.19% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Edison International from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Mizuho decreased their price target on Edison International from $71.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, November 7th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley decreased their price target on Edison International from $57.00 to $54.00 and set an “underweight” rating for the company in a report on Wednesday, February 22nd. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and an average target price of $69.64.
Edison International Price Performance
Edison International (NYSE:EIX – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.07. Edison International had a net margin of 4.48% and a return on equity of 12.05%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the firm earned $1.16 EPS. Equities research analysts expect that Edison International will post 4.74 EPS for the current fiscal year.
Edison International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Friday, March 31st will be given a $0.7375 dividend. The ex-dividend date is Thursday, March 30th. This represents a $2.95 annualized dividend and a yield of 4.33%. Edison International’s payout ratio is 184.38%.
About Edison International
Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.
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