Sigma Planning Corp Buys New Stake in Edison International (EIX)

Sigma Planning Corp bought a new position in shares of Edison International (NYSE:EIX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 3,397 shares of the utilities provider’s stock, valued at approximately $210,000.

Several other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Edison International by 9.5% during the 1st quarter. Parallel Advisors LLC now owns 2,067 shares of the utilities provider’s stock worth $128,000 after buying an additional 179 shares during the period. Kaizen Advisory LLC grew its position in shares of Edison International by 26.0% during the 4th quarter. Kaizen Advisory LLC now owns 892 shares of the utilities provider’s stock worth $51,000 after buying an additional 184 shares during the period. Lindbrook Capital LLC grew its position in shares of Edison International by 26.2% during the 1st quarter. Lindbrook Capital LLC now owns 896 shares of the utilities provider’s stock worth $55,000 after buying an additional 186 shares during the period. CWM LLC grew its position in shares of Edison International by 11.7% during the 4th quarter. CWM LLC now owns 1,879 shares of the utilities provider’s stock worth $107,000 after buying an additional 197 shares during the period. Finally, Rehmann Capital Advisory Group grew its position in shares of Edison International by 57.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock worth $31,000 after buying an additional 199 shares during the period. Institutional investors own 84.66% of the company’s stock.

Shares of EIX opened at $59.96 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.74 and a quick ratio of 0.69. Edison International has a 52-week low of $45.50 and a 52-week high of $71.00. The company has a market capitalization of $19.53 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.48 and a beta of -0.05.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.25). Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Edison International’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that Edison International will post 4.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a $0.6125 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.45 annualized dividend and a dividend yield of 4.09%. Edison International’s dividend payout ratio is presently 59.04%.

Several equities analysts have recently issued reports on EIX shares. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Friday, January 18th. Citigroup boosted their price objective on Edison International to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. ValuEngine upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Wells Fargo & Co lowered Edison International from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Monday, February 11th. Finally, Morgan Stanley boosted their price objective on Edison International from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Edison International has a consensus rating of “Hold” and a consensus target price of $70.59.

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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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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