Legal & General Group Plc lowered its stake in shares of Edison International (NYSE:EIX - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,656,875 shares of the utilities provider's stock after selling 559,521 shares during the quarter. Legal & General Group Plc owned 1.20% of Edison International worth $371,805,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Crews Bank & Trust bought a new position in Edison International during the fourth quarter valued at $25,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% during 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 during the period. Sierra Ocean LLC bought a new position in Edison International during the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. raised its position in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after purchasing an additional 200 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock worth $34,000 after purchasing an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.
Edison International Stock Up 1.3 %
EIX stock traded up $0.72 during trading on Friday, hitting $56.12. 2,085,321 shares of the company's stock traded hands, compared to its average volume of 2,933,206. The business has a fifty day simple moving average of $54.86 and a two-hundred day simple moving average of $70.04. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $21.61 billion, a P/E ratio of 16.46, a PEG ratio of 1.07 and a beta of 0.74. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.
Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.
Edison International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.90%. Edison International's dividend payout ratio (DPR) is presently 100.30%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Mizuho decreased their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Barclays cut their price target on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.75.
Check Out Our Latest Stock Report on Edison International
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.
Further Reading
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
