Edison International (NYSE:EIX) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its holdings in Edison International (NYSE:EIX) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,164 shares of the utilities provider’s stock after buying an additional 560 shares during the period. First Trust Direct Indexing L.P.’s holdings in Edison International were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. New York Life Investment Management LLC raised its holdings in shares of Edison International by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 61,958 shares of the utilities provider’s stock valued at $4,429,000 after buying an additional 225 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Edison International by 27.4% in the fourth quarter. Victory Capital Management Inc. now owns 600,168 shares of the utilities provider’s stock valued at $42,906,000 after purchasing an additional 129,101 shares during the period. Gibraltar Capital Management Inc. raised its stake in shares of Edison International by 1.5% during the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after purchasing an additional 174 shares during the last quarter. Mission Wealth Management LP raised its position in Edison International by 37.4% during the 4th quarter. Mission Wealth Management LP now owns 8,492 shares of the utilities provider’s stock worth $607,000 after buying an additional 2,310 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Edison International by 24.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 366,816 shares of the utilities provider’s stock worth $26,224,000 after acquiring an additional 71,962 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EIX shares. The Goldman Sachs Group started 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. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Royal Bank of Canada decreased their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Finally, Mizuho dropped their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.78.

Edison International Stock Up 0.5 %

EIX opened at $72.34 on Monday. The firm has a market cap of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95. The business’s fifty day simple moving average is $69.41 and its 200 day simple moving average is $67.96. Edison International has a 52 week low of $58.82 and a 52 week high of $74.40. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04.

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

Edison International Dividend Announcement

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