Edison International $EIX Stock Holdings Boosted by Cetera Investment Advisers

Cetera Investment Advisers grew its position in shares of Edison International (NYSE:EIX) by 14.6% during the 1st quarter, Holdings Channel reports. The firm owned 210,994 shares of the utilities provider’s stock after purchasing an additional 26,886 shares during the period. Cetera Investment Advisers’ holdings in Edison International were worth $15,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 10Elms LLP acquired a new stake in shares of Edison International in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC boosted its stake in Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after buying an additional 281 shares in the last quarter. Quest 10 Wealth Builders Inc. grew its holdings in Edison International by 866.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 702 shares during the period. DV Equities LLC acquired a new position in Edison International during the fourth quarter worth about $52,000. Finally, McMillan Office Inc. bought a new stake in Edison International in the fourth quarter worth about $55,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $79.85 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $30.73 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 6.11 and a beta of 0.66. The stock’s fifty day simple moving average is $73.95 and its 200 day simple moving average is $70.73. Edison International has a 52-week low of $51.01 and a 52-week high of $81.62.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.15 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. Edison International’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.4%. Edison International’s dividend payout ratio (DPR) is currently 38.11%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. Wells Fargo & Company reissued an “underweight” rating and issued a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Seaport Research Partners cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Barclays lifted their price objective on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Morgan Stanley reiterated an “underweight” rating and issued a $69.00 target price on shares of Edison International in a report on Wednesday, July 22nd. Finally, Truist Financial cut their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.64.

About Edison International

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.