Dynamic Technology Lab Private Ltd bought a new stake in Edison International (NYSE:EIX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,220 shares of the utilities provider's stock, valued at approximately $1,694,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Benjamin Edwards Inc. purchased a new stake in shares of Edison International during the third quarter worth approximately $1,100,000. Hilltop Holdings Inc. grew its holdings in Edison International by 14.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,424 shares of the utilities provider's stock worth $385,000 after acquiring an additional 542 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Edison International by 2.9% in the 3rd quarter. HighTower Advisors LLC now owns 39,237 shares of the utilities provider's stock valued at $3,404,000 after purchasing an additional 1,111 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Edison International in the 3rd quarter valued at $1,452,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Edison International during the third quarter worth $245,000. 88.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
EIX has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target 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. Wells Fargo & Company cut their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Finally, Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Edison International has a consensus rating of "Moderate Buy" and an average price target of $76.75.
View Our Latest Stock Analysis on EIX
Edison International Stock Performance
Shares of EIX traded down $1.09 during mid-day trading on Thursday, hitting $54.98. 1,022,600 shares of the company's stock were exchanged, compared to its average volume of 2,912,256. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The business's 50 day moving average is $54.71 and its two-hundred day moving average is $70.57. The firm has a market capitalization of $21.17 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.07 and a beta of 0.74.
Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current year.
Edison International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.02%. Edison International's payout ratio is currently 100.30%.
Edison International Company 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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