Raymond James Trust N.A. trimmed its holdings in Edison International (NYSE:EIX – Get Rating) by 32.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,354 shares of the utilities provider's stock after selling 2,630 shares during the quarter. Raymond James Trust N.A.'s holdings in Edison International were worth $339,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Edison International by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider's stock worth $3,121,569,000 after acquiring an additional 731,841 shares during the last quarter. State Street Corp raised its holdings in Edison International by 6.8% during the 1st quarter. State Street Corp now owns 27,888,808 shares of the utilities provider's stock valued at $1,973,974,000 after buying an additional 1,780,762 shares during the last quarter. Capital Research Global Investors raised its holdings in Edison International by 28.5% during the 4th quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider's stock valued at $1,471,953,000 after buying an additional 4,777,038 shares during the last quarter. Capital International Investors raised its holdings in Edison International by 50.1% during the 1st quarter. Capital International Investors now owns 18,792,163 shares of the utilities provider's stock valued at $1,317,330,000 after buying an additional 6,272,409 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Edison International by 7.8% during the 4th quarter. Deutsche Bank AG now owns 9,580,805 shares of the utilities provider's stock valued at $653,891,000 after buying an additional 691,686 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors.
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Edison International Stock Performance
Shares of EIX stock opened at $61.37 on Wednesday. Edison International has a one year low of $54.98 and a one year high of $73.32. The company's 50-day moving average is $67.66 and its 200 day moving average is $67.13. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 46.49, a price-to-earnings-growth ratio of 4.93 and a beta of 0.67. 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 posted its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $4.01 billion for 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 business's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Sell-side analysts expect that Edison International will post 4.43 EPS for the current fiscal year.
Edison International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.56%. The ex-dividend date is Thursday, September 29th. Edison International's dividend payout ratio is currently 212.12%.
Analyst Ratings Changes
A number of research firms recently commented on EIX. Evercore ISI lowered their price target on shares of Edison International to $71.00 in a report on Tuesday, August 9th. Mizuho decreased their price objective on shares of Edison International from $72.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, August 24th. Morgan Stanley lowered shares of Edison International from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Bank of America restated an "underperform" rating on shares of Edison International in a report on Thursday, July 14th. Finally, UBS Group decreased 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $72.44.
Edison International Company Profile
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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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