CoreFirst Bank & Trust Takes $59,000 Position in Edison International (NYSE:EIX)

CoreFirst Bank & Trust acquired a new position in shares of Edison International (NYSE:EIX) during the 4th quarter, Holdings Channel reports. The fund acquired 736 shares of the utilities provider’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. boosted its position in shares of Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock worth $550,000 after purchasing an additional 174 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after buying an additional 176 shares during the period. Old Port Advisors lifted its holdings in Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after acquiring an additional 180 shares in the last quarter. Larson Financial Group LLC grew its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Finally, Centre Asset Management LLC increased its holdings in shares of Edison International by 8.1% in the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

EIX opened at $57.18 on Wednesday. The business’s 50-day simple moving average is $55.24 and its 200 day simple moving average is $72.99. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $22.02 billion, a PE ratio of 16.77, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. As a group, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Barclays cut their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.82.

About Edison International

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.