WEALTHFRONT Corp lifted its stake in shares of Edison International (NYSE:EIX) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,506 shares of the utilities provider’s stock after acquiring an additional 927 shares during the period. WEALTHFRONT Corp’s holdings in Edison International were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of EIX. Stelac Advisory Services LLC purchased a new position in shares of Edison International during the 3rd quarter worth $129,000. Gradient Investments LLC raised its holdings in shares of Edison International by 94.2% during the 3rd quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 989 shares during the period. Bbva Compass Bancshares Inc. purchased a new position in shares of Edison International during the 3rd quarter worth $155,000. CSat Investment Advisory L.P. purchased a new position in shares of Edison International during the 2nd quarter worth $182,000. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Edison International by 103.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,750 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 83.35% of the company’s stock.
Several research firms have recently commented on EIX. Citigroup set a $72.00 price target on Edison International and gave the stock a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Wednesday, October 10th. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, October 11th. Argus raised their price objective on Edison International to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 11th. They noted that the move was a valuation call. Finally, ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and an average target price of $69.96.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.25. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the company earned $1.43 EPS. On average, sell-side analysts forecast that Edison International will post 4.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be given a $0.6125 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, December 28th. Edison International’s payout ratio is currently 53.78%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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