Citigroup Inc. boosted its holdings in Edison International (NYSE:EIX – Free Report) by 32.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 697,622 shares of the utilities provider’s stock after acquiring an additional 172,125 shares during the quarter. Citigroup Inc. owned 0.18% of Edison International worth $48,450,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in EIX. Dimensional Fund Advisors LP grew its stake in Edison International by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after buying an additional 137,840 shares during the last quarter. Aviva PLC grew its stake in Edison International by 21.5% during the first quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock worth $10,596,000 after buying an additional 26,797 shares during the last quarter. Prudential PLC bought a new stake in Edison International during the first quarter worth about $688,000. Cetera Investment Advisers grew its stake in Edison International by 30.5% during the first quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,617 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Edison International by 1.7% during the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after buying an additional 731,841 shares during the last quarter. 88.17% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Caroline Choi sold 11,222 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $71.64, for a total transaction of $803,944.08. Following the sale, the senior vice president now directly owns 20,881 shares in the company, valued at $1,495,914.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.03% of the stock is currently owned by company insiders.
Edison International Trading Up 1.1 %
EIX opened at $65.99 on Friday. The firm’s fifty day moving average is $65.17 and its two-hundred day moving average is $68.10. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.80. The firm has a market cap of $25.31 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.86. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92.
Edison International (NYSE:EIX – Get Free Report) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.08). The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $5.71 billion. Edison International had a return on equity of 12.79% and a net margin of 8.75%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. Equities research analysts anticipate that Edison International will post 4.71 EPS for the current year.
Edison International Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.7375 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 4.47%. Edison International’s payout ratio is 91.90%.
Analysts Set New Price Targets
EIX has been the topic of several research analyst reports. Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $73.00 to $75.00 in a research note on Tuesday, August 22nd. Barclays cut their price objective on shares of Edison International from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. StockNews.com initiated coverage on shares of Edison International in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley cut their price objective on shares of Edison International from $53.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, October 25th. Finally, Evercore ISI upgraded shares of Edison International from an “in-line” rating to an “outperform” rating and cut their price objective for the company from $74.00 to $68.00 in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.33.
View Our Latest Stock Analysis on Edison International
Edison International Company Profile
(Free Report)
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
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Citigroup Inc. boosted its holdings in Edison International (NYSE:EIX – Free Report) by 32.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 697,622 shares of the utilities provider’s stock after acquiring an additional 172,125 shares during the quarter. Citigroup Inc. owned 0.18% of Edison International worth $48,450,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in EIX. Dimensional Fund Advisors LP grew its stake in Edison International by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after buying an additional 137,840 shares during the last quarter. Aviva PLC grew its stake in Edison International by 21.5% during the first quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock worth $10,596,000 after buying an additional 26,797 shares during the last quarter. Prudential PLC bought a new stake in Edison International during the first quarter worth about $688,000. Cetera Investment Advisers grew its stake in Edison International by 30.5% during the first quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,617 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Edison International by 1.7% during the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after buying an additional 731,841 shares during the last quarter. 88.17% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, SVP Caroline Choi sold 11,222 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $71.64, for a total transaction of $803,944.08. Following the sale, the senior vice president now directly owns 20,881 shares in the company, valued at $1,495,914.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.03% of the stock is currently owned by company insiders.
Edison International Trading Up 1.1 %
EIX opened at $65.99 on Friday. The firm’s fifty day moving average is $65.17 and its two-hundred day moving average is $68.10. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.75 and a current ratio of 0.80. The firm has a market cap of $25.31 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.86. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92.
Edison International (NYSE:EIX – Get Free Report) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.08). The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $5.71 billion. Edison International had a return on equity of 12.79% and a net margin of 8.75%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. Equities research analysts anticipate that Edison International will post 4.71 EPS for the current year.
Edison International Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.7375 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 4.47%. Edison International’s payout ratio is 91.90%.
Analysts Set New Price Targets
EIX has been the topic of several research analyst reports. Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $73.00 to $75.00 in a research note on Tuesday, August 22nd. Barclays cut their price objective on shares of Edison International from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. StockNews.com initiated coverage on shares of Edison International in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley cut their price objective on shares of Edison International from $53.00 to $52.00 and set an “underweight” rating on the stock in a report on Wednesday, October 25th. Finally, Evercore ISI upgraded shares of Edison International from an “in-line” rating to an “outperform” rating and cut their price objective for the company from $74.00 to $68.00 in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.33.
View Our Latest Stock Analysis on Edison International
Edison International Company Profile
(Free Report)
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Edison International, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Edison International wasn’t on the list.
While Edison International currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment.
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Source: marketbeat.com
