D.A. Davidson & CO. trimmed its holdings in shares of Edison International (NYSE:EIX) by 34.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,866 shares of the utilities provider’s stock after selling 7,187 shares during the period. D.A. Davidson & CO.’s holdings in Edison International were worth $1,046,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of EIX. Crossmark Global Holdings Inc. boosted its stake in Edison International by 2.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 25,630 shares of the utilities provider’s stock valued at $1,728,000 after purchasing an additional 524 shares during the last quarter. Kwmg LLC boosted its stake in shares of Edison International by 5.5% in the 2nd quarter. Kwmg LLC now owns 36,261 shares of the utilities provider’s stock worth $2,444,000 after buying an additional 1,886 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Edison International by 6.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,772 shares of the utilities provider’s stock worth $194,000 after buying an additional 156 shares during the last quarter. Bennicas & Associates Inc. purchased a new position in shares of Edison International in the 2nd quarter worth $209,000. Finally, Raymond James Trust N.A. boosted its stake in shares of Edison International by 16.4% in the 2nd quarter. Raymond James Trust N.A. now owns 4,148 shares of the utilities provider’s stock worth $280,000 after buying an additional 584 shares during the last quarter. Institutional investors and hedge funds own 76.99% of the company’s stock.
EIX has been the topic of a number of research reports. Barclays raised their price target on Edison International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price target on Edison International to $79.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. They noted that the move was a valuation call. Argus dropped their price target on Edison International from $81.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Bank of America set a $73.00 price target on Edison International and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, TheStreet upgraded Edison International from a “c+” rating to a “b-” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $75.00.
Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the business posted $1.57 earnings per share. Analysts predict that Edison International will post 4.74 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.613 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, September 27th. Edison International’s dividend payout ratio (DPR) is currently 59.04%.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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