OneAscent Financial Services LLC purchased a new position in Edison International (NYSE:EIX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,560 shares of the utilities provider's stock, valued at approximately $683,000.
Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in Edison International during the 4th quarter worth approximately $25,000. Groupama Asset Managment lifted its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Edison International in the 4th quarter worth approximately $33,000. ST Germain D J Co. Inc. lifted its stake in Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 311 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on EIX shares. Morgan Stanley raised their price target on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. Wells Fargo & Company cut their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Barclays cut their price target on Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.82.
Get Our Latest Stock Report on Edison International
Edison International Price Performance
EIX stock traded up $0.96 during trading on Tuesday, hitting $54.58. The stock had a trading volume of 797,308 shares, compared to its average volume of 2,889,230. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company's 50 day moving average price is $54.76 and its two-hundred day moving average price is $71.24.
Edison International (NYSE:EIX - Get Free Report) last released its 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). The company had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio is presently 100.30%.
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.
See Also
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
