AdvisorNet Financial Inc Purchases 475 Shares of Edison International (NYSE:EIX)

AdvisorNet Financial Inc boosted its position in shares of Edison International (NYSE:EIXGet Rating) by 100.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 950 shares of the utilities provider’s stock after buying an additional 475 shares during the quarter. AdvisorNet Financial Inc’s holdings in Edison International were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SFE Investment Counsel raised its holdings in Edison International by 0.5% in the 1st quarter. SFE Investment Counsel now owns 32,695 shares of the utilities provider’s stock worth $2,292,000 after purchasing an additional 155 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Edison International by 12.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,501 shares of the utilities provider’s stock worth $95,000 after acquiring an additional 165 shares in the last quarter. Aberdeen Wealth Management LLC grew its position in Edison International by 4.3% during the 1st quarter. Aberdeen Wealth Management LLC now owns 4,072 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 169 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Edison International by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 24,000 shares of the utilities provider’s stock valued at $1,746,000 after purchasing an additional 200 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in Edison International by 0.7% during the 1st quarter. D.A. Davidson & CO. now owns 29,205 shares of the utilities provider’s stock valued at $2,047,000 after purchasing an additional 213 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on EIX shares. Barclays cut their price objective on shares of 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 downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $69.00 to $62.00 in a report on Tuesday, September 6th. Mizuho dropped their price target on shares of Edison International from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, August 24th. Bank of America reaffirmed an “underperform” rating on shares of Edison International in a report on Thursday, July 14th. Finally, UBS Group dropped their price target on shares of Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 30th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.44.

Edison International Price Performance

Shares of NYSE:EIX opened at $65.80 on Friday. The firm’s 50 day moving average price is $67.55 and its 200-day moving average price is $67.16. Edison International has a twelve month low of $54.98 and a twelve month high of $73.32. 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 stock has a market capitalization of $25.10 billion, a PE ratio of 49.85, a price-to-earnings-growth ratio of 5.15 and a beta of 0.67.

Edison International (NYSE:EIXGet Rating) last issued its quarterly earnings data 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. Edison International had a net margin of 3.63% and a return on equity of 12.42%. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that Edison International will post 4.43 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, September 29th. Edison International’s 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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