Truist Financial Corp Boosts Stock Position in Edison International (NYSE:EIX)

Truist Financial Corp boosted its holdings in Edison International (NYSE:EIX) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,980 shares of the utilities provider’s stock after purchasing an additional 2,483 shares during the quarter. Truist Financial Corp’s holdings in Edison International were worth $5,932,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in shares of Edison International during the fourth quarter worth about $27,000. WASHINGTON TRUST Co grew its holdings in shares of Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Edison International by 144.4% during the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 397 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Edison International during the third quarter worth about $47,000. Finally, GAMMA Investing LLC purchased a new position in shares of Edison International during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EIX shares. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Barclays raised their price objective on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday. Mizuho reduced their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group began coverage on shares of Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.78.

Edison International Stock Up 0.5 %

EIX stock opened at $72.34 on Friday. Edison International has a one year low of $58.82 and a one year high of $74.40. The stock has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95. The company has a 50 day moving average price of $69.41 and a two-hundred day moving average price of $67.93. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.73 and a current ratio of 1.00.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts expect that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is 136.84%.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.