Putnam Investments LLC Buys 205 Shares of Edison International (NYSE:EIX)

Posted by Defense World Staff on Mar 12th, 2023

Edison International logo Putnam Investments LLC raised its stake in shares of Edison International (NYSE:EIX – Get Rating) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 54,485 shares of the utilities provider’s stock after purchasing an additional 205 shares during the quarter. Putnam Investments LLC’s holdings in Edison International were worth $3,083,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Invesco Ltd. increased its stake in Edison International by 36.8% during the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock valued at $401,877,000 after acquiring an additional 1,541,989 shares during the period. Prudential Financial Inc. increased its position in shares of Edison International by 116.6% during the second quarter. Prudential Financial Inc. now owns 1,904,395 shares of the utilities provider’s stock valued at $120,433,000 after purchasing an additional 1,025,096 shares during the period. State Street Corp raised its stake in shares of Edison International by 2.9% in the second quarter. State Street Corp now owns 28,703,577 shares of the utilities provider’s stock valued at $1,815,214,000 after purchasing an additional 814,769 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Edison International by 105.3% in the second quarter. Nordea Investment Management AB now owns 1,458,056 shares of the utilities provider’s stock valued at $91,347,000 after purchasing an additional 747,958 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after purchasing an additional 731,841 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Edison International Stock Down 1.1 %

NYSE EIX opened at $66.23 on Friday. The stock’s 50 day simple moving average is $67.22 and its 200 day simple moving average is $64.51. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. Edison International has a one year low of $54.45 and a one year high of $73.32. The firm has a market cap of $25.34 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 4.71 and a beta of 0.78.

Edison International (NYSE:EIX – Get Rating) last announced its earnings results on Thursday, February 23rd. The utilities provider reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.07. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.61 billion. Edison International had a return on equity of 12.05% and a net margin of 4.48%. During the same period last year, the company posted $1.16 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.72 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.7375 per share. The ex-dividend date is Thursday, March 30th. This represents a $2.95 annualized dividend and a dividend yield of 4.45%. Edison International’s dividend payout ratio (DPR) is currently 184.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price objective on shares of Edison International in a research note on Monday, March 6th. JPMorgan Chase & Co. increased their price target on shares of Edison International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. Wells Fargo & Company downgraded Edison International from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $76.00 to $73.00 in a report on Wednesday, February 1st. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Monday, February 27th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Tuesday, January 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $69.64.

About Edison International

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.