Allworth Financial LP boosted its position in Edison International (NYSE:EIX – Get Rating) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,429 shares of the utilities provider's stock after buying an additional 481 shares during the quarter. Allworth Financial LP's holdings in Edison International were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of EIX. Godsey & Gibb Associates purchased a new stake in Edison International in the first quarter worth $25,000. San Luis Wealth Advisors LLC purchased a new stake in Edison International in the first quarter worth $25,000. Prospera Financial Services Inc purchased a new stake in Edison International in the first quarter worth $27,000. Riverview Trust Co purchased a new stake in Edison International in the first quarter worth $33,000. Finally, CVA Family Office LLC increased its position in Edison International by 144.7% in the first quarter. CVA Family Office LLC now owns 465 shares of the utilities provider's stock worth $33,000 after buying an additional 275 shares during the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.
Get Edison International alerts:Edison International Price Performance
NYSE:EIX opened at $64.86 on Friday. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 5.03 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 stock has a fifty day moving average of $67.62 and a 200 day moving average of $67.16. 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 quarterly earnings data 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. Edison International had a return on equity of 12.42% and a net margin of 3.63%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm's quarterly revenue was up 20.9% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.43 EPS for the current fiscal year.Edison International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.32%. Edison International's payout ratio is 212.12%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Bank of America reaffirmed an "underperform" rating on shares of Edison International in a report on Thursday, July 14th. UBS Group cut their price target on Edison International from $73.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, June 30th. Barclays cut their price target on Edison International from $73.00 to $67.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Evercore ISI cut their price target on Edison International to $71.00 in a report on Tuesday, August 9th. Finally, Morgan Stanley lowered Edison International from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $72.44.
Edison International 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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