Allworth Financial LP Buys 321 Shares of Edison International (NYSE:EIX)

Posted by Defense World Staff on Jul 1st, 2023

Edison International logo Allworth Financial LP increased its stake in shares of Edison International (NYSE:EIX – Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,579 shares of the utilities provider’s stock after buying an additional 321 shares during the period. Allworth Financial LP’s holdings in Edison International were worth $888,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Securian Asset Management Inc. boosted its holdings in shares of Edison International by 0.5% during the 4th quarter. Securian Asset Management Inc. now owns 31,240 shares of the utilities provider’s stock worth $1,987,000 after buying an additional 169 shares during the period. Lido Advisors LLC raised its stake in Edison International by 5.0% in the 3rd quarter. Lido Advisors LLC now owns 3,738 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 178 shares in the last quarter. CWM LLC raised its stake in Edison International by 3.2% in the 4th quarter. CWM LLC now owns 6,158 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 189 shares in the last quarter. Advisor Partners II LLC raised its stake in Edison International by 2.0% in the 4th quarter. Advisor Partners II LLC now owns 10,461 shares of the utilities provider’s stock worth $666,000 after purchasing an additional 202 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Edison International by 14.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,642 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 88.83% of the company’s stock.

Insiders Place Their Bets

In other Edison International news, SVP J Andrew Murphy sold 22,471 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $72.03, for a total transaction of $1,618,586.13. Following the sale, the senior vice president now directly owns 12,989 shares of the company’s stock, valued at approximately $935,597.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

EIX stock opened at $69.43 on Friday. The company has a 50 day simple moving average of $69.73 and a 200 day simple moving average of $68.57. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 3.80 and a beta of 0.81. Edison International has a 1 year low of $54.45 and a 1 year high of $74.92. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.86 and a quick ratio of 0.80.

Edison International (NYSE:EIX – Free Report) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4 billion. Edison International had a net margin of 6.12% and a return on equity of 12.48%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. Research analysts anticipate that Edison International will post 4.72 EPS for the current fiscal year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Wednesday, July 5th will be issued a dividend of $0.738 per share. This represents a $2.95 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Edison International’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, July 3rd. Edison International’s payout ratio is presently 134.70%.

Wall Street Analyst Weigh In

EIX has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Edison International from $73.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, April 10th. LADENBURG THALM/SH SH lifted their price objective on shares of Edison International from $66.00 to $67.00 in a research note on Wednesday, May 17th. Mizuho lifted their price objective on shares of Edison International from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, April 10th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 target price on shares of Edison International in a research report on Monday, March 6th. Finally, Guggenheim boosted their target price on shares of Edison International from $75.00 to $81.00 in a research report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.08.

Edison International Company Profile

(Free Report)

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.