Moody National Bank Trust Division Raises Holdings in Edison International (NYSE:EIX)

Moody National Bank Trust Division lifted its holdings in shares of Edison International (NYSE:EIXGet Rating) by 10.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,338 shares of the utilities provider’s stock after acquiring an additional 1,184 shares during the period. Moody National Bank Trust Division’s holdings in Edison International were worth $781,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Godsey & Gibb Associates purchased a new stake in shares of Edison International during the first quarter worth about $25,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Edison International during the first quarter worth about $25,000. Prospera Financial Services Inc purchased a new stake in shares of Edison International during the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of Edison International during the first quarter worth about $33,000. Finally, CVA Family Office LLC grew its stake in shares of Edison International by 144.7% during the first quarter. CVA Family Office LLC now owns 465 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Edison International Trading Down 1.1 %

Edison International stock opened at $67.52 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The firm has a market cap of $25.75 billion, a PE ratio of 51.15, a P/E/G ratio of 5.13 and a beta of 0.67. The stock’s 50 day simple moving average is $67.16 and its two-hundred day simple moving average is $67.12. Edison International has a 12 month low of $54.98 and a 12 month high of $73.32.

Edison International (NYSE:EIXGet Rating) last announced its earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. Analysts anticipate that Edison International will post 4.43 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, September 29th. Edison International’s payout ratio is 212.12%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho dropped their target price on Edison International from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 24th. Barclays dropped their target price on Edison International from $73.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Morgan Stanley lowered Edison International from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $69.00 to $62.00 in a research report on Tuesday, September 6th. Evercore ISI dropped their target price on Edison International to $71.00 in a research report on Tuesday, August 9th. Finally, UBS Group dropped their target price on Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.44.

Edison International Profile

(Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

Further Reading

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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