Schroder Investment Management Group grew its stake in Edison International (NYSE:EIX) by 4,409.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,609 shares of the utilities provider’s stock after purchasing an additional 48,509 shares during the quarter. Schroder Investment Management Group’s holdings in Edison International were worth $3,358,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new position in shares of Edison International in the third quarter valued at about $129,000. Gradient Investments LLC grew its stake in shares of Edison International by 94.2% in the third quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 989 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of Edison International in the third quarter valued at about $155,000. CSat Investment Advisory L.P. acquired a new position in shares of Edison International in the second quarter valued at about $182,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Edison International in the second quarter valued at about $198,000. 83.35% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. Morgan Stanley restated a “hold” rating on shares of Edison International in a research note on Monday, August 27th. Mizuho upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $62.00 to $57.50 in a research note on Wednesday, November 21st. ValuEngine downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. Bank of America downgraded shares of Edison International from a “buy” rating to a “neutral” rating and upped their price target for the company from $72.00 to $75.00 in a research note on Thursday, October 11th. Finally, Zacks Investment Research restated a “buy” rating and issued a $76.00 price target on shares of Edison International in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $69.96.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.25. The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. On average, analysts predict that Edison International will post 4.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a yield of 4.19%. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, December 28th. Edison International’s dividend payout ratio is presently 53.78%.
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Edison International Profile
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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