Cibc World Markets Corp lifted its position in Edison International (NYSE:EIX - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,064 shares of the utilities provider's stock after buying an additional 8,695 shares during the period. Cibc World Markets Corp's holdings in Edison International were worth $4,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Edison International in the fourth quarter worth approximately $25,000. Groupama Asset Managment increased its stake in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Larson Financial Group LLC raised its holdings in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock worth $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC purchased a new position in Edison International during the third quarter valued at $32,000. Finally, Sierra Ocean LLC bought a new stake in Edison International during the fourth quarter valued at about $33,000. Institutional investors own 88.95% of the company's stock.
Edison International Price Performance
NYSE EIX traded up $0.42 during trading on Monday, hitting $58.59. 2,731,930 shares of the stock traded hands, compared to its average volume of 2,664,885. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The firm has a 50-day simple moving average of $55.24 and a 200-day simple moving average of $73.41. The company has a market capitalization of $22.56 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.
Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. As a group, analysts predict that Edison International will post 4.95 EPS for the current year.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.65%. Edison International's dividend payout ratio is currently 100.30%.
Wall Street Analysts Forecast Growth
EIX has been the topic of several recent research reports. Barclays lowered their price objective on Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has an average rating of "Moderate Buy" and a consensus target price of $76.82.
Check Out Our Latest Stock Report on Edison International
About Edison International
(
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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