Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, August 25th. Shareholders of record on Friday, September 30th will be given a dividend of 0.48 per share on Monday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, September 28th.
Shares of Edison International (NYSE:EIX) opened at 75.55 on Tuesday. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 28.01 and a beta of 0.17. The firm’s 50 day moving average is $73.80 and its 200 day moving average is $73.19. Edison International has a 52-week low of $57.51 and a 52-week high of $78.72.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.12. The company earned $2.78 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Equities analysts expect that Edison International will post $3.89 earnings per share for the current year.
Several analysts recently issued reports on EIX shares. BMO Capital Markets restated an “outperform” rating and issued a $82.00 price objective (up from $79.00) on shares of Edison International in a report on Monday, August 1st. Argus restated a “buy” rating and issued a $86.00 price objective (up from $83.00) on shares of Edison International in a report on Tuesday, July 5th. Evercore ISI lowered shares of Edison International from a “buy” rating to a “hold” rating and boosted their price objective for the company from $70.00 to $79.00 in a report on Wednesday, July 6th. Citigroup Inc. boosted their price objective on shares of Edison International from $70.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Finally, Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $77.88.
In related news, Director Jagjeet S. Bindra sold 3,995 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total value of $294,831.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen O. Tauscher sold 3,012 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $71.87, for a total value of $216,472.44. The disclosure for this sale can be found here. 1.51% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. US Bancorp DE increased its position in shares of Edison International by 12.5% in the second quarter. US Bancorp DE now owns 116,008 shares of the company’s stock worth $9,010,000 after buying an additional 12,927 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Edison International by 0.9% in the second quarter. Wetherby Asset Management Inc. now owns 3,361 shares of the company’s stock worth $261,000 after buying an additional 30 shares during the period. Bank of Nova Scotia increased its position in shares of Edison International by 6.7% in the second quarter. Bank of Nova Scotia now owns 6,508 shares of the company’s stock worth $505,000 after buying an additional 410 shares during the period. Advantus Capital Management Inc increased its position in shares of Edison International by 1.1% in the second quarter. Advantus Capital Management Inc now owns 31,688 shares of the company’s stock worth $2,461,000 after buying an additional 344 shares during the period. Finally, Tredje AP fonden acquired a new position in shares of Edison International during the second quarter worth about $284,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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