Ellevest Inc. increased its holdings in shares of Edison International (NYSE:EIX) by 23.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,133 shares of the utilities provider’s stock after purchasing an additional 777 shares during the quarter. Ellevest Inc.’s holdings in Edison International were worth $242,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. lifted its position in shares of Edison International by 4.0% in the fourth quarter. Bessemer Group Inc. now owns 4,594 shares of the utilities provider’s stock valued at $288,000 after acquiring an additional 175 shares in the last quarter. Reilly Financial Advisors LLC lifted its position in Edison International by 5.2% during the first quarter. Reilly Financial Advisors LLC now owns 3,761 shares of the utilities provider’s stock worth $220,000 after buying an additional 185 shares during the period. Avantax Advisory Services Inc. lifted its position in Edison International by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,792 shares of the utilities provider’s stock worth $303,000 after buying an additional 192 shares during the period. Meeder Asset Management Inc. lifted its position in Edison International by 29.4% during the fourth quarter. Meeder Asset Management Inc. now owns 853 shares of the utilities provider’s stock worth $54,000 after buying an additional 194 shares during the period. Finally, SOA Wealth Advisors LLC. lifted its position in Edison International by 84.5% during the first quarter. SOA Wealth Advisors LLC. now owns 428 shares of the utilities provider’s stock worth $25,000 after buying an additional 196 shares during the period. 87.58% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. KeyCorp cut their price objective on Edison International from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, April 27th. Morgan Stanley raised their price objective on Edison International from $67.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, April 26th. Wells Fargo & Company raised their price objective on Edison International from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, May 4th. Finally, TheStreet lowered Edison International from a “b-” rating to a “c” rating in a research note on Tuesday, April 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.50.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a return on equity of 10.57% and a net margin of 3.23%. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts forecast that Edison International will post 4.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Wednesday, March 31st were issued a $0.6625 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Tuesday, March 30th. Edison International’s payout ratio is 56.38%.
Edison International Profile
Edison International, through its subsidiaries, generates and distributes electric power. As of March 03, 2021, it delivered electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. Edison International also provides energy solutions to commercial and industrial users.
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