OneDigital Investment Advisors LLC Purchases 514 Shares of Edison International (NYSE:EIX)

OneDigital Investment Advisors LLC increased its stake in Edison International (NYSE:EIX) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,225 shares of the utilities provider’s stock after purchasing an additional 514 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Edison International were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Calamos Advisors LLC raised its holdings in Edison International by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 85,873 shares of the utilities provider’s stock worth $5,060,000 after purchasing an additional 956 shares during the period. Meritage Portfolio Management raised its holdings in Edison International by 56.8% in the 1st quarter. Meritage Portfolio Management now owns 4,308 shares of the utilities provider’s stock worth $254,000 after purchasing an additional 1,561 shares during the period. Teacher Retirement System of Texas raised its holdings in Edison International by 303.7% in the 1st quarter. Teacher Retirement System of Texas now owns 71,581 shares of the utilities provider’s stock worth $4,218,000 after purchasing an additional 53,850 shares during the period. CarsonAllaria Wealth Management Ltd. raised its holdings in Edison International by 11.5% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 281 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Edison International by 53.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,734 shares of the utilities provider’s stock worth $4,109,000 after purchasing an additional 24,186 shares during the period. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent research reports. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Wolfe Research cut Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday, June 18th. Finally, Barclays raised their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Trading Down 0.4%

Shares of EIX stock opened at $51.07 on Friday. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The stock’s 50-day moving average price is $53.38 and its 200-day moving average price is $56.70. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.48%. Edison International’s dividend payout ratio is currently 46.95%.

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.