Edison International (NYSE:EIX) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Edison International (NYSE:EIX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,620,122 shares of the utilities provider’s stock after purchasing an additional 32,391 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Edison International worth $209,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Edison International in the fourth quarter valued at $25,000. Highline Wealth Partners LLC acquired a new position in shares of Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment raised its position in shares of Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Edison International in the 3rd quarter valued at $32,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX opened at $51.43 on Friday. Edison International has a one year low of $49.06 and a one year high of $88.77. The business’s 50-day moving average price is $61.88 and its two-hundred day moving average price is $76.70. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $19.91 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.44%. Edison International’s dividend payout ratio is presently 97.07%.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Morgan Stanley cut their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. Barclays decreased their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Edison International Company 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.