Bank of New York Mellon Corp Buys 32,391 Shares of Edison International (NYSE:EIX)

Bank of New York Mellon Corp grew its stake in shares of Edison International (NYSE:EIX) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,620,122 shares of the utilities provider’s stock after purchasing an additional 32,391 shares during the period. Bank of New York Mellon Corp’s holdings in Edison International were worth $209,191,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Edison International in the 4th quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter valued at approximately $26,000. Groupama Asset Managment raised its stake in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Larson Financial Group LLC lifted its position in Edison International by 125.0% in the third 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 period. Finally, Prospera Private Wealth LLC acquired a new stake in Edison International during the third quarter worth $32,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 2.3 %

Shares of EIX opened at $51.43 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market cap of $19.91 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.07 and a beta of 0.90. The stock has a fifty day moving average price of $61.88 and a two-hundred day moving average price of $76.70. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Analysts predict 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 Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.44%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EIX shares. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley cut their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $80.11.

Edison International 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.