Amalgamated Bank lessened its holdings in Edison International (NYSE:EIX – Get Rating) by 6.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 94,601 shares of the utilities provider’s stock after selling 6,784 shares during the quarter. Amalgamated Bank’s holdings in Edison International were worth $6,632,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after buying an additional 731,841 shares during the period. State Street Corp boosted its position in Edison International by 6.8% during the first quarter. State Street Corp now owns 27,888,808 shares of the utilities provider’s stock valued at $1,973,974,000 after purchasing an additional 1,780,762 shares during the last quarter. Capital Research Global Investors boosted its position in Edison International by 28.5% during the fourth quarter. Capital Research Global Investors now owns 21,567,094 shares of the utilities provider’s stock valued at $1,471,953,000 after purchasing an additional 4,777,038 shares during the last quarter. Capital International Investors boosted its position in Edison International by 50.1% during the first quarter. Capital International Investors now owns 18,792,163 shares of the utilities provider’s stock valued at $1,317,330,000 after purchasing an additional 6,272,409 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Edison International by 7.8% during the fourth quarter. Deutsche Bank AG now owns 9,580,805 shares of the utilities provider’s stock valued at $653,891,000 after purchasing an additional 691,686 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on EIX. Barclays reduced their price objective on Edison International from $73.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Morgan Stanley cut Edison International from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $69.00 to $62.00 in a research report on Tuesday, September 6th. Evercore ISI decreased their price target on Edison International to $71.00 in a research note on Tuesday, August 9th. Mizuho cut their price objective on Edison International from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 24th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Edison International in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.44.
Edison International Stock Down 1.1 %
Edison International (NYSE:EIX – Get Rating) last issued its earnings results on Thursday, July 28th. The utilities provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. Edison International’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $0.94 earnings per share. As a group, sell-side analysts anticipate that Edison International will post 4.43 earnings per share for the current year.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.70 dividend. The ex-dividend date is Thursday, September 29th. This represents a $2.80 annualized dividend and a yield of 4.15%. Edison International’s dividend payout ratio (DPR) is currently 212.12%.
About Edison International
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.
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