M&T Bank Corp Has $2.33 Million Stock Holdings in Edison International (NYSE:EIX)

M&T Bank Corp cut its holdings in Edison International (NYSE:EIX) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,131 shares of the utilities provider’s stock after selling 667 shares during the quarter. M&T Bank Corp’s holdings in Edison International were worth $2,326,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in Edison International by 2.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 174 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 176 shares during the last quarter. Old Port Advisors lifted its stake in Edison International by 0.9% in the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after acquiring an additional 180 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in Edison International by 19.3% in the third quarter. Addison Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 194 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Morgan Stanley reduced their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Barclays reduced their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.54.

Edison International Price Performance

Shares of Edison International stock opened at $56.46 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm has a fifty day moving average price of $58.91 and a two-hundred day moving average price of $75.41. The company has a market cap of $21.74 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.86%. 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.