Edison International (NYSE:EIX) Stock Position Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of Edison International (NYSE:EIX) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,030,011 shares of the utilities provider’s stock after selling 103,563 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.31% of Edison International worth $296,368,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Edison International during the 1st quarter valued at $213,000. Sigma Planning Corp boosted its stake in Edison International by 18.5% during the first quarter. Sigma Planning Corp now owns 3,840 shares of the utilities provider’s stock valued at $226,000 after buying an additional 600 shares in the last quarter. Signaturefd LLC boosted its stake in Edison International by 136.9% during the first quarter. Signaturefd LLC now owns 6,715 shares of the utilities provider’s stock valued at $396,000 after buying an additional 3,880 shares in the last quarter. Edgestream Partners L.P. grew its holdings in Edison International by 41.4% during the first quarter. Edgestream Partners L.P. now owns 141,947 shares of the utilities provider’s stock worth $8,364,000 after acquiring an additional 41,537 shares during the period. Finally, Marks Group Wealth Management Inc raised its position in Edison International by 6.0% in the first quarter. Marks Group Wealth Management Inc now owns 25,087 shares of the utilities provider’s stock worth $1,478,000 after acquiring an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 0.2%

Shares of Edison International stock opened at $50.98 on Tuesday. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The company has a market cap of $19.62 billion, a P/E ratio of 7.23, a P/E/G ratio of 1.19 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The stock has a 50-day moving average price of $53.30 and a 200 day moving average price of $56.33.

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

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Monday, July 7th. Edison International’s dividend payout ratio is currently 46.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EIX. 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 report on Thursday, May 1st. Morgan Stanley cut their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research note on Wednesday, June 18th. Wolfe Research lowered shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.