Edison International (NYSE:EIX) Shares Bought by Slagle Financial LLC

Slagle Financial LLC lifted its position in shares of Edison International (NYSE:EIX) by 2.7% during the 1st quarter, HoldingsChannel reports. The fund owned 44,727 shares of the utilities provider’s stock after purchasing an additional 1,166 shares during the period. Slagle Financial LLC’s holdings in Edison International were worth $2,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. increased its holdings in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock worth $25,000 after buying an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Edison International in the 1st quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new stake in Edison International in the fourth quarter valued at $34,000. OFI Invest Asset Management acquired a new stake in Edison International in the fourth quarter valued at $38,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Edison International in the fourth quarter valued at $44,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 0.5%

Shares of NYSE:EIX opened at $50.75 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company’s fifty day simple moving average is $53.58 and its 200 day simple moving average is $57.30. The firm has a market cap of $19.53 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 1.18 and a beta of 0.75.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 EPS. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.52%. Edison International’s payout ratio is 46.95%.

Analyst Ratings Changes

A number of research firms recently issued reports on EIX. Morgan Stanley lowered their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday, June 18th. JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Wolfe Research downgraded Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Barclays increased their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Evercore ISI reissued an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target 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.