State Street Corp increased its position in shares of Edison International (NYSE:EIX - Free Report) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,549,936 shares of the utilities provider's stock after purchasing an additional 224,337 shares during the period. State Street Corp owned 8.41% of Edison International worth $2,834,774,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in Edison International by 5.2% during the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider's stock valued at $26,973,000 after acquiring an additional 15,181 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of Edison International in the third quarter worth about $471,000. Quantinno Capital Management LP grew its position in shares of Edison International by 21.8% during the third quarter. Quantinno Capital Management LP now owns 31,297 shares of the utilities provider's stock worth $2,726,000 after purchasing an additional 5,595 shares in the last quarter. Quarry LP raised its stake in Edison International by 13.5% during the 3rd quarter. Quarry LP now owns 42,428 shares of the utilities provider's stock valued at $3,695,000 after purchasing an additional 5,057 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in Edison International in the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors own 88.95% of the company's stock.
Edison International Trading Down 1.2 %
NYSE:EIX traded down $0.98 during midday trading on Friday, hitting $83.94. 2,041,160 shares of the company traded hands, compared to its average volume of 2,036,142. The firm has a market capitalization of $32.50 billion, a P/E ratio of 24.62, a P/E/G ratio of 2.03 and a beta of 0.92. The firm's fifty day moving average is $84.81 and its 200-day moving average is $80.81. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. 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 (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 earnings per share. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current year.
Edison International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, October 7th. Edison International's payout ratio is currently 91.50%.
Insider Buying and Selling at Edison International
In related news, VP Adam S. Umanoff sold 25,619 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.03% of the company's stock.
Analyst Upgrades and Downgrades
EIX has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Wednesday, September 4th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price on the stock. Finally, Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.
Read Our Latest Research 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.
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