Strategic Investment Advisors MI Takes Position in Edison International $EIX

Strategic Investment Advisors MI acquired a new position in Edison International (NYSE:EIX) during the first quarter, Holdings Channel reports. The firm acquired 24,320 shares of the utilities provider’s stock, valued at approximately $1,781,000.

Several other institutional investors have also modified their holdings of the company. Equitable Trust Co. boosted its stake in Edison International by 0.8% during the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after buying an additional 148 shares in the last quarter. Altshuler Shaham Ltd raised its position in Edison International by 36.6% in the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 155 shares in the last quarter. UMB Bank n.a. raised its position in Edison International by 5.3% in the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock worth $190,000 after acquiring an additional 159 shares in the last quarter. Sterling Group Wealth Management LLC lifted its holdings in Edison International by 2.7% in the 1st quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider’s stock valued at $528,000 after acquiring an additional 190 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Edison International by 6.2% in the 4th quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Down 1.4%

NYSE:EIX opened at $78.68 on Thursday. The stock has a fifty day simple moving average of $74.13 and a 200 day simple moving average of $70.87. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66. Edison International has a 1-year low of $51.01 and a 1-year high of $81.62. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

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

Edison International Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EIX shares. Truist Financial lowered their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Morgan Stanley restated an “underweight” rating and set a $69.00 target price on shares of Edison International in a report on Wednesday, July 22nd. Finally, Barclays lifted their price target on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.64.

Edison International 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.