M&T Bank Corp Decreases Stock Holdings in Edison International (NYSE:EIX)

M&T Bank Corp lowered its holdings in shares of Edison International (NYSE:EIX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,272 shares of the utilities provider’s stock after selling 439 shares during the quarter. M&T Bank Corp’s holdings in Edison International were worth $2,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. Bruce G. Allen Investments LLC bought a new position in shares of Edison International in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co increased its stake in 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 acquiring an additional 270 shares during the last quarter. Lindbrook Capital LLC raised its position in Edison International by 144.4% during the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 397 shares during the period. Authentikos Wealth Advisory LLC bought a new stake in shares of Edison International in the 3rd quarter valued at approximately $47,000. Finally, GAMMA Investing LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $48,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target on the stock. 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 research note on Monday, January 22nd. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Barclays increased their price objective on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $72.78.

Edison International Price Performance

Edison International stock opened at $73.85 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 32.39 and a beta of 0.95. The firm has a 50-day moving average of $69.67 and a two-hundred day moving average of $68.10. Edison International has a 1 year low of $58.82 and a 1 year high of $74.40.

Edison International (NYSE:EIX) last issued its 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 for the quarter, compared to analyst estimates 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 last year, the company posted $1.09 earnings per share. On average, research analysts forecast that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The business 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 4.22%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is presently 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.