Edison International (NYSE:EIX) Shares Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc grew its holdings in Edison International (NYSE:EIX) by 6.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 25,087 shares of the utilities provider’s stock after buying an additional 1,420 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $1,478,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC increased its position in shares of Edison International by 650.3% during the first quarter. CWM LLC now owns 96,934 shares of the utilities provider’s stock valued at $5,711,000 after acquiring an additional 84,014 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Edison International by 13.4% during the 1st quarter. New York State Common Retirement Fund now owns 235,121 shares of the utilities provider’s stock worth $13,853,000 after purchasing an additional 27,830 shares during the period. Ballentine Partners LLC increased its holdings in Edison International by 70.0% in the 1st quarter. Ballentine Partners LLC now owns 4,647 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 1,914 shares during the last quarter. Focused Wealth Management Inc raised its position in Edison International by 16.0% in the first quarter. Focused Wealth Management Inc now owns 3,646 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 502 shares during the period. Finally, Fidelis Capital Partners LLC lifted its stake in Edison International by 5.2% during the first quarter. Fidelis Capital Partners LLC now owns 14,902 shares of the utilities provider’s stock worth $864,000 after purchasing an additional 743 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the subject of a number of research reports. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Morgan Stanley lowered their target price on Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. Barclays raised their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Price Performance

Shares of EIX opened at $51.07 on Monday. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.19 and a beta of 0.75. The firm’s fifty day simple moving average is $53.38 and its 200-day simple moving average is $56.54. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. Edison International’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.48%. Edison International’s dividend payout ratio is currently 46.95%.

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.