Lombard Odier Asset Management Switzerland SA Makes New Investment in Edison International $EIX

Lombard Odier Asset Management Switzerland SA acquired a new stake in Edison International (NYSE:EIX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,235 shares of the utilities provider’s stock, valued at approximately $1,115,000.

Several other large investors also recently made changes to their positions in the stock. Equitable Trust Co. lifted its holdings in Edison International by 0.8% during the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after purchasing an additional 148 shares during the last quarter. UMB Bank n.a. lifted its holdings in Edison International by 5.3% during the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 159 shares during the last quarter. LVW Advisors LLC boosted its stake in Edison International by 4.6% in the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 186 shares during the period. Sterling Group Wealth Management LLC boosted its stake in Edison International by 2.7% in the 1st quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider’s stock valued at $528,000 after purchasing an additional 190 shares during the period. Finally, Huntington National Bank grew its holdings in Edison International by 6.2% in the 4th quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock valued at $201,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $78.64 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.26 billion, a PE ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. Edison International has a 12-month low of $51.01 and a 12-month high of $80.90. The business has a 50-day simple moving average of $73.76 and a two-hundred day simple moving average of $70.58.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio is 38.11%.

Analysts Set New Price Targets

EIX has been the subject of a number of research reports. Morgan Stanley reissued an “underweight” rating and set a $69.00 target price on shares of Edison International in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Edison International in a research report on Monday, July 13th. Wells Fargo & Company reiterated an “underweight” rating and issued a $62.00 price objective on shares of Edison International in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Bank of America decreased their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus target price of $72.64.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.