Equitable Trust Co. acquired a new stake in Edison International (NYSE:EIX – Get Rating) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,575 shares of the utilities provider's stock, valued at approximately $226,000.
Several other institutional investors have also added to or reduced their stakes in EIX. Godsey & Gibb Associates acquired a new stake in shares of Edison International in the 1st quarter valued at approximately $25,000. San Luis Wealth Advisors LLC acquired a new stake in Edison International in the first quarter valued at approximately $25,000. Prospera Financial Services Inc bought a new stake in shares of Edison International during the first quarter worth $27,000. Riverview Trust Co bought a new stake in shares of Edison International during the first quarter worth $33,000. Finally, CVA Family Office LLC increased its holdings in shares of Edison International by 144.7% during 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 in the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
Get Edison International alerts:Edison International Stock Down 0.1 %
Shares of NYSE:EIX opened at $61.31 on Thursday. Edison International has a 1 year low of $54.98 and a 1 year high of $73.32. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.61 and a quick ratio of 0.56. The business's 50-day moving average is $67.67 and its 200-day moving average is $67.09. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 46.45, a P/E/G ratio of 4.80 and a beta of 0.67.
Edison International (NYSE:EIX – Get Rating) last issued its quarterly 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 firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. The company's revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities research analysts predict that Edison International will post 4.43 earnings per share for the current year.Edison International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, September 29th. Edison International's dividend payout ratio (DPR) is currently 212.12%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. UBS Group reduced their price objective on Edison International from $73.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, June 30th. Bank of America reaffirmed an "underperform" rating on shares of Edison International in a research note on Thursday, July 14th. Morgan Stanley lowered shares of Edison International from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $69.00 to $62.00 in a report on Tuesday, September 6th. Barclays cut their price target on shares of Edison International from $73.00 to $67.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. Finally, Evercore ISI decreased their price objective on Edison International to $71.00 in a report on Tuesday, August 9th. Two research 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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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