Lido Advisors LLC Increases Stock Position in Edison International $EIX

Lido Advisors LLC boosted its position in shares of Edison International (NYSE:EIX) by 53.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,691 shares of the utilities provider’s stock after buying an additional 6,477 shares during the quarter. Lido Advisors LLC’s holdings in Edison International were worth $1,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Jones Financial Companies Lllp grew its position in shares of Edison International by 112.9% during the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 5,190 shares during the period. Empowered Funds LLC raised its holdings in Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares during the period. Woodline Partners LP raised its holdings in Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 9,459 shares during the period. Sivia Capital Partners LLC raised its holdings in Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 5,290 shares during the period. Finally, Baird Financial Group Inc. purchased a new position in Edison International during the second quarter worth approximately $302,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $78.64 on Tuesday. The business has a 50 day simple moving average of $73.76 and a two-hundred day simple moving average of $70.58. Edison International has a 12 month low of $51.01 and a 12 month high of $80.90. The stock has a market capitalization of $30.26 billion, a P/E ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, analysts predict that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s dividend payout ratio is currently 38.11%.

Analyst Ratings Changes

Several analysts have commented on EIX shares. Truist Financial dropped their price objective on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. JPMorgan Chase & Co. upped their target price on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Bank of America decreased their target price on Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Seaport Research Partners cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $69.00 price target on shares of Edison International in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.64.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.