Lido Advisors LLC Increases Position in Edison International $EIX

Lido Advisors LLC raised its holdings in Edison International (NYSE:EIX) by 53.0% in the first quarter, Holdings Channel reports. The fund owned 18,691 shares of the utilities provider’s stock after buying an additional 6,477 shares during the period. Lido Advisors LLC’s holdings in Edison International were worth $1,368,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of Edison International by 14.6% during the 1st quarter. Cetera Investment Advisers now owns 210,994 shares of the utilities provider’s stock worth $15,441,000 after purchasing an additional 26,886 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Edison International in the first quarter valued at approximately $275,000. Arvest Bank Trust Division increased its holdings in shares of Edison International by 1.2% in the first quarter. Arvest Bank Trust Division now owns 21,707 shares of the utilities provider’s stock valued at $1,589,000 after purchasing an additional 252 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Edison International during the first quarter worth approximately $2,063,000. Finally, ABN Amro Investment Solutions lifted its position in Edison International by 3.6% during the first quarter. ABN Amro Investment Solutions now owns 35,069 shares of the utilities provider’s stock worth $2,566,000 after buying an additional 1,212 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Down 1.4%

Shares of Edison International stock opened at $78.64 on Tuesday. The stock has a 50 day moving average of $73.76 and a 200 day moving average of $70.58. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. Edison International has a fifty-two week low of $51.01 and a fifty-two week high of $80.90.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $1.37 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 38.11%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays upped their target price on Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Edison International in a research report on Monday, July 13th. Bank of America dropped their price objective on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Morgan Stanley restated an “underweight” rating and set a $69.00 price objective on shares of Edison International in a research report on Wednesday, July 22nd. Finally, Truist Financial reduced their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Edison International has an average rating of “Hold” and an average target price of $72.64.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.