Gateway Investment Advisers LLC lessened its holdings in shares of Edison International (NYSE:EIX) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,140 shares of the utilities provider’s stock after selling 372 shares during the period. Gateway Investment Advisers LLC’s holdings in Edison International were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EIX. Tibra Equities Europe Ltd purchased a new position in Edison International during the 1st quarter worth approximately $681,000. Nexus Investment Management Inc. grew its position in Edison International by 9.3% during the 1st quarter. Nexus Investment Management Inc. now owns 11,700 shares of the utilities provider’s stock worth $724,000 after purchasing an additional 1,000 shares in the last quarter. Fulton Bank N.A. grew its position in Edison International by 11.4% during the 1st quarter. Fulton Bank N.A. now owns 4,534 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 464 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in Edison International during the 4th quarter worth approximately $29,000. Finally, Sowell Financial Services LLC purchased a new position in Edison International during the 4th quarter worth approximately $210,000. 84.82% of the stock is currently owned by institutional investors.
Edison International stock opened at $64.44 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.62. Edison International has a 12 month low of $45.50 and a 12 month high of $71.00. The firm has a market cap of $21.24 billion, a PE ratio of 15.53, a P/E/G ratio of 2.24 and a beta of -0.06.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Thursday, March 28th. Edison International’s dividend payout ratio is currently 59.04%.
Several equities analysts have weighed in on the stock. SunTrust Banks lifted their price objective on shares of Edison International to $77.00 and gave the stock a “positive” rating in a research report on Monday. Zacks Investment Research cut shares of Edison International from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Co lifted their price objective on shares of Edison International from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Monday. Mizuho lifted their price objective on shares of Edison International from $57.00 to $66.50 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Barclays reiterated a “hold” rating and set a $65.00 price objective on shares of Edison International in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $70.14.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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