Edison International (NYSE:EIX) Stake Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Edison International (NYSE:EIXGet Rating) by 36.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,176 shares of the utilities provider’s stock after buying an additional 21,745 shares during the quarter. State of Alaska Department of Revenue’s holdings in Edison International were worth $5,133,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its position in Edison International by 6.9% during the 4th quarter. Private Advisor Group LLC now owns 14,137 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 918 shares during the period. Geode Capital Management LLC boosted its position in Edison International by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,850,574 shares of the utilities provider’s stock worth $466,276,000 after acquiring an additional 203,745 shares during the period. Rockefeller Capital Management L.P. boosted its position in Edison International by 13.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 64,426 shares of the utilities provider’s stock worth $4,396,000 after acquiring an additional 7,561 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in Edison International by 4.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 41,010 shares of the utilities provider’s stock worth $2,799,000 after acquiring an additional 1,904 shares during the period. Finally, LNZ Capital LP acquired a new position in Edison International during the 4th quarter worth $11,603,000. 87.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EIX shares. Barclays reduced their price target 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. Mizuho reduced their price target on Edison International from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, August 24th. Bank of America reiterated an “underperform” rating on shares of Edison International in a research report on Thursday, July 14th. Evercore ISI reduced their price target on Edison International to $71.00 in a research report on Tuesday, August 9th. Finally, Morgan Stanley lowered Edison International from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $69.00 to $62.00 in a report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.44.

Edison International Trading Down 1.0 %

Shares of Edison International stock opened at $67.71 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.60. The firm has a market cap of $25.83 billion, a price-to-earnings ratio of 51.30, a price-to-earnings-growth ratio of 5.20 and a beta of 0.67. The business has a fifty day simple moving average of $67.27 and a 200-day simple moving average of $67.17. Edison International has a fifty-two week low of $54.98 and a fifty-two week high of $73.32.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, September 29th. Edison International’s dividend payout ratio is 212.12%.

About Edison International

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

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