Westpac Banking Corp lowered its stake in shares of Edison International (NYSE:EIX) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 118,671 shares of the utilities provider’s stock after selling 6,680 shares during the period. Westpac Banking Corp’s holdings in Edison International were worth $8,000,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Trust Co. of Vermont boosted its stake in shares of Edison International by 101.2% in the 2nd quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 250 shares during the last quarter. Northern Oak Wealth Management Inc. bought a new position in shares of Edison International in the 1st quarter valued at about $37,000. Bremer Bank National Association bought a new position in shares of Edison International in the 1st quarter valued at about $39,000. NEXT Financial Group Inc bought a new position in shares of Edison International in the 2nd quarter valued at about $52,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Edison International by 26.2% in the 1st quarter. Lindbrook Capital LLC now owns 896 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 186 shares during the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. Barclays reaffirmed a “hold” rating and issued a $72.00 target price on shares of Edison International in a research note on Sunday, July 28th. Morgan Stanley set a $70.00 target price on shares of Edison International and gave the company a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating and set a $63.00 target price on the stock in a research note on Friday, May 31st. Mizuho raised their target price on shares of Edison International from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, SunTrust Banks raised their target price on shares of Edison International from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.82.
Shares of NYSE:EIX traded up $0.18 during mid-day trading on Thursday, reaching $72.00. The stock had a trading volume of 28,779 shares, compared to its average volume of 3,978,509. The company has a market cap of $25.86 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.86 and a beta of 0.13. The stock has a 50 day moving average of $70.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.64 and a current ratio of 0.69. Edison International has a twelve month low of $45.50 and a twelve month high of $75.39.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.43. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.15 billion. Edison International had a negative net margin of 1.21% and a positive return on equity of 12.15%. During the same period last year, the company posted $0.85 EPS. On average, equities research analysts expect that Edison International will post 4.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.6125 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.40%. Edison International’s dividend payout ratio is 59.04%.
Edison International Company Profile
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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