First Trust Direct Indexing L.P. Purchases 560 Shares of Edison International (NYSE:EIX)

First Trust Direct Indexing L.P. lifted its position in Edison International (NYSE:EIX) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,164 shares of the utilities provider’s stock after acquiring an additional 560 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Edison International were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EIX. Bruce G. Allen Investments LLC purchased a new stake in Edison International in the fourth quarter worth $27,000. WASHINGTON TRUST Co increased its position in shares of Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 270 shares during the period. Lindbrook Capital LLC raised its position in Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 397 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in shares of Edison International in the 3rd quarter worth $47,000. Finally, GAMMA Investing LLC bought a new position in shares of Edison International during the 4th quarter worth $48,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EIX shares. Mizuho lowered their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Barclays increased their price objective on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus price target of $72.78.

Edison International Stock Performance

Shares of EIX stock opened at $72.34 on Monday. Edison International has a 52-week low of $58.82 and a 52-week high of $74.40. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The stock has a market cap of $27.83 billion, a PE ratio of 31.73 and a beta of 0.95. The business has a 50-day simple moving average of $69.41 and a 200-day simple moving average of $67.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. On average, equities analysts expect that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.31%. Edison International’s dividend payout ratio is presently 136.84%.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.