Edison International (NYSE:EIX) Shares Acquired by Carson Advisory Inc.

Carson Advisory Inc. raised its holdings in shares of Edison International (NYSE:EIX) by 19.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 62,380 shares of the utilities provider’s stock after buying an additional 10,152 shares during the quarter. Edison International comprises approximately 2.5% of Carson Advisory Inc.’s holdings, making the stock its 8th largest holding. Carson Advisory Inc.’s holdings in Edison International were worth $3,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Vanguard Group Inc. increased its stake in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after purchasing an additional 362,999 shares in the last quarter. Northern Trust Corp increased its stake in shares of Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider’s stock worth $412,246,000 after purchasing an additional 371,043 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Edison International by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock worth $409,865,000 after purchasing an additional 50,451 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EIX. Barclays upped their target price on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Wolfe Research lowered shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. JPMorgan Chase & Co. dropped their target price on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Finally, Morgan Stanley dropped their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Trading Up 0.8%

Shares of EIX stock opened at $51.34 on Friday. The stock has a market cap of $19.75 billion, a P/E ratio of 7.28, a P/E/G ratio of 1.19 and a beta of 0.75. The business has a fifty day simple moving average of $53.02 and a 200-day simple moving average of $56.06. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date is Monday, July 7th. Edison International’s dividend payout ratio is presently 46.95%.

About Edison International

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.