AE Wealth Management LLC Increases Stake in Edison International $EIX

AE Wealth Management LLC increased its stake in Edison International (NYSE:EIX) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,496 shares of the utilities provider’s stock after buying an additional 43,926 shares during the period. AE Wealth Management LLC owned 0.14% of Edison International worth $29,105,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EIX. Vanguard Group Inc. raised its position in shares of Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after acquiring an additional 2,386,562 shares in the last quarter. Geode Capital Management LLC grew its stake in Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after purchasing an additional 407,039 shares during the period. AQR Capital Management LLC grew its stake in Edison International by 83.5% in the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after purchasing an additional 4,534,864 shares during the period. Invesco Ltd. raised its holdings in Edison International by 10.8% in the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after purchasing an additional 621,924 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Edison International by 11.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock valued at $288,599,000 after buying an additional 562,991 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EIX. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. raised their target price on shares of Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group reissued a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Finally, Barclays reduced their price objective on Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.30.

Edison International Stock Down 0.5%

EIX stock opened at $62.30 on Thursday. The stock has a market capitalization of $23.97 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.91 and a beta of 0.83. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. Edison International has a 1-year low of $47.73 and a 1-year high of $63.19. The business has a fifty day moving average price of $59.65 and a 200-day moving average price of $56.69.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. Edison International’s dividend payout ratio is presently 45.88%.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.