Van ECK Associates Corp Lowers Holdings in Edison International (NYSE:EIX)

Van ECK Associates Corp reduced its position in shares of Edison International (NYSE:EIX) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,712 shares of the utilities provider’s stock after selling 2,734 shares during the quarter. Van ECK Associates Corp’s holdings in Edison International were worth $6,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EIX. First Trust Direct Indexing L.P. boosted its stake in shares of Edison International by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock worth $418,000 after acquiring an additional 162 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Edison International by 2.6% during the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 164 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Edison International by 3.9% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock worth $281,000 after buying an additional 165 shares during the period. Greenleaf Trust lifted its position in shares of Edison International by 2.9% during the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock valued at $410,000 after buying an additional 185 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its position in shares of Edison International by 6.0% during the 3rd quarter. Cable Hill Partners LLC now owns 3,336 shares of the utilities provider’s stock valued at $211,000 after buying an additional 190 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Royal Bank of Canada reduced their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. The Goldman Sachs Group initiated coverage on shares of Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. Finally, Barclays increased their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $72.78.

Edison International Trading Up 0.5 %

NYSE EIX opened at $72.34 on Friday. Edison International has a 12 month low of $58.82 and a 12 month 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 debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.73. The firm’s 50-day moving average is $69.41 and its two-hundred day moving average is $67.93.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Edison International Profile

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.