Global Retirement Partners LLC raised its position in shares of Edison International (NYSE:EIX – Get Rating) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,471 shares of the utilities provider's stock after purchasing an additional 211 shares during the period. Global Retirement Partners LLC's holdings in Edison International were worth $852,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of Edison International by 360.4% during the fourth quarter. Capital International Investors now owns 12,519,754 shares of the utilities provider's stock worth $854,473,000 after buying an additional 9,800,598 shares in the last quarter. Capital Research Global Investors boosted its position in Edison International by 28.5% during the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider's stock valued at $1,471,953,000 after acquiring an additional 4,777,038 shares during the last quarter. Norges Bank bought a new stake in Edison International during the fourth quarter valued at $265,494,000. State Street Corp boosted its position in shares of Edison International by 6.8% during the 1st quarter. State Street Corp now owns 27,888,808 shares of the utilities provider's stock worth $1,973,974,000 after purchasing an additional 1,780,762 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Edison International by 36.8% during the 1st quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider's stock worth $401,877,000 after purchasing an additional 1,541,989 shares in the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
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Edison International Trading Down 1.4 %
Shares of NYSE EIX opened at $64.86 on Monday. The firm's 50 day moving average price is $67.62 and its 200-day moving average price is $67.18. The company has a market cap of $24.74 billion, a PE ratio of 49.14, a P/E/G ratio of 4.93 and a beta of 0.67. Edison International has a 52-week low of $54.98 and a 52-week high of $73.32. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.61.
Edison International (NYSE:EIX – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $3.57 billion. Edison International had a net
margin of 3.63% and a return on equity of 12.42%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. On average, equities research analysts expect that Edison International will post 4.43 EPS for the current fiscal year.
Edison International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Thursday, September 29th. Edison International's payout ratio is 212.12%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on EIX. Morgan Stanley lowered shares of Edison International from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Barclays decreased their price target on shares of Edison International from $73.00 to $67.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Mizuho decreased their price target on shares of Edison International from $72.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, August 24th. UBS Group cut their price objective on shares of Edison International from $73.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, June 30th. Finally, Bank of America reaffirmed an "underperform" rating on shares of Edison International in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Edison International currently has a consensus rating of "Hold" and an average target price of $72.44.
About Edison International
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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.
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