Reliance Trust Co. of Delaware lessened its stake in shares of Edison International (NYSE:EIX) by 8.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,356 shares of the utilities provider’s stock after selling 605 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Edison International were worth $393,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Edison International by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 681,908 shares of the utilities provider’s stock worth $46,144,000 after purchasing an additional 81,229 shares in the last quarter. Man Group plc increased its holdings in Edison International by 639.5% during the 3rd quarter. Man Group plc now owns 30,040 shares of the utilities provider’s stock worth $2,034,000 after purchasing an additional 25,978 shares in the last quarter. Kentucky Retirement Systems bought a new position in Edison International during the 3rd quarter worth about $1,245,000. Legal & General Group Plc increased its holdings in Edison International by 5.9% during the 3rd quarter. Legal & General Group Plc now owns 3,336,181 shares of the utilities provider’s stock worth $225,767,000 after purchasing an additional 185,127 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Edison International by 39.3% in the 3rd quarter. Morgan Stanley now owns 1,622,589 shares of the utilities provider’s stock valued at $109,815,000 after acquiring an additional 458,151 shares in the last quarter. 84.66% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the stock. SunTrust Banks raised their target price on shares of Edison International to $77.00 and gave the company a “positive” rating in a research note on Monday, April 15th. Zacks Investment Research downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Wells Fargo & Co lifted their price objective on shares of Edison International from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. Mizuho boosted their target price on shares of Edison International from $57.00 to $66.50 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Wolfe Research raised shares of Edison International from a “peer perform” rating to an “outperform” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Edison International presently has an average rating of “Hold” and an average price target of $70.59.
EIX stock traded up $0.54 during trading on Wednesday, reaching $61.15. The stock had a trading volume of 1,219,200 shares, compared to its average volume of 2,464,291. Edison International has a one year low of $45.50 and a one year high of $71.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 0.74. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.48 and a beta of -0.05.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.25). Edison International had a positive return on equity of 10.28% and a negative net margin of 1.94%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Edison International will post 4.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 28th. Edison International’s dividend payout ratio is currently 59.04%.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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