CoreFirst Bank & Trust Buys New Shares in Edison International (NYSE:EIX)

CoreFirst Bank & Trust purchased a new stake in shares of Edison International (NYSE:EIX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 736 shares of the utilities provider’s stock, valued at approximately $59,000.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Edison International in the 4th quarter valued at $235,000. KBC Group NV raised its stake in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after buying an additional 11,764 shares in the last quarter. abrdn plc lifted its holdings in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after acquiring an additional 76,654 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Barclays dropped their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Trading Down 2.4 %

Shares of NYSE EIX opened at $57.18 on Wednesday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a 50-day moving average of $55.24 and a two-hundred day moving average of $72.99. The company has a market cap of $22.02 billion, a PE ratio of 16.77, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is 100.30%.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.