Mackay Shields LLC raised its position in shares of Edison International (NYSE:EIX) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 59,335 shares of the utilities provider’s stock after buying an additional 2,280 shares during the quarter. Mackay Shields LLC’s holdings in Edison International were worth $4,475,000 as of its most recent filing with the Securities & Exchange Commission.
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Other institutional investors have also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. purchased a new position in shares of Edison International during the 2nd quarter valued at about $32,000. Trust Co. of Vermont lifted its position in shares of Edison International by 101.2% during the 2nd quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock valued at $34,000 after buying an additional 250 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Edison International during the 2nd quarter valued at about $34,000. Sandy Spring Bank lifted its position in shares of Edison International by 220.9% during the 2nd quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock valued at $37,000 after buying an additional 380 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Edison International during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 78.18% of the company’s stock.
NYSE EIX traded up $0.61 during trading hours on Friday, reaching $66.30. The company’s stock had a trading volume of 1,627,611 shares, compared to its average volume of 2,595,215. The firm’s 50-day moving average price is $70.77 and its 200-day moving average price is $67.89. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.11. Edison International has a 1 year low of $45.50 and a 1 year high of $76.45. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.65 and a beta of 0.05.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. Equities research analysts anticipate that Edison International will post 4.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.613 dividend. The ex-dividend date of this dividend was Friday, September 27th. This is a boost from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 dividend on an annualized basis and a yield of 3.70%. Edison International’s payout ratio is currently 59.04%.
A number of research analysts have recently weighed in on EIX shares. Barclays lifted their price objective on Edison International from $72.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. TheStreet raised Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. Bank of America set a $73.00 price objective on Edison International and gave the company a “hold” rating in a research report on Friday, November 1st. SunTrust Banks set a $83.00 price objective on Edison International and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Mizuho lowered their price objective on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Edison International has a consensus rating of “Hold” and a consensus price target of $75.00.
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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