Edison International (NYSE:EIX) Stake Boosted by Intrust Bank NA

Intrust Bank NA boosted its stake in shares of Edison International (NYSE:EIX) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,603 shares of the utilities provider’s stock after purchasing an additional 587 shares during the quarter. Intrust Bank NA’s holdings in Edison International were worth $447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Edison International by 2.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 236,040 shares of the utilities provider’s stock worth $20,557,000 after buying an additional 5,285 shares in the last quarter. Glenmede Trust Co. NA increased its position in Edison International by 5.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,668 shares of the utilities provider’s stock valued at $668,000 after acquiring an additional 400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Edison International in the 3rd quarter valued at approximately $132,000. Finally, CreativeOne Wealth LLC bought a new stake in Edison International during the 3rd quarter valued at $394,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 1.6 %

EIX stock opened at $58.20 on Monday. 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 firm has a market capitalization of $22.41 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company’s 50 day simple moving average is $55.00 and its 200-day simple moving average is $72.42.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. As a group, equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.69%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EIX. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Morgan Stanley raised their target price on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. The Goldman Sachs Group decreased their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $76.82.

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.