PNC Financial Services Group Inc. cut its stake in shares of Edison International (NYSE:EIX – Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,300 shares of the utilities provider’s stock after selling 3,277 shares during the period. PNC Financial Services Group Inc.’s holdings in Edison International were worth $4,016,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Assetmark Inc. lifted its position in shares of Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares in the last quarter. Jamison Private Wealth Management Inc. raised its holdings in Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 174 shares during the period. Bleakley Financial Group LLC raised its holdings in Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 176 shares during the period. Old Port Advisors raised its holdings in Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after acquiring an additional 180 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. 88.95% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on EIX. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley decreased their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Finally, Mizuho decreased their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.
Check Out Our Latest Stock Analysis on Edison International
Edison International Stock Performance
Shares of Edison International stock opened at $55.86 on Friday. The firm’s 50-day moving average is $57.02 and its 200 day moving average is $74.75. The stock has a market cap of $21.51 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.
Edison International (NYSE:EIX – Get Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.93%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is currently 100.30%.
Edison International Profile
(Free Report)
Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.
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