PFG Investments LLC Decreases Stock Position in Edison International (NYSE:EIX)

PFG Investments LLC cut its position in Edison International (NYSE:EIX) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,901 shares of the utilities provider’s stock after selling 194 shares during the quarter. PFG Investments LLC’s holdings in Edison International were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bleakley Financial Group LLC boosted its stake in shares of Edison International by 2.4% in the second quarter. Bleakley Financial Group LLC now owns 7,052 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 162 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Edison International by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 162 shares during the period. Axxcess Wealth Management LLC boosted its stake in shares of Edison International by 2.6% in the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 164 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Edison International by 3.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 165 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Edison International by 0.4% in the first quarter. MML Investors Services LLC now owns 44,495 shares of the utilities provider’s stock valued at $3,141,000 after purchasing an additional 180 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Up 1.7 %

Shares of NYSE:EIX opened at $69.39 on Thursday. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.96. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92. The company’s fifty day moving average is $67.53 and its two-hundred day moving average is $67.19. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company earned $1.14 EPS. Equities analysts anticipate that Edison International will post 4.98 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.50%. Edison International’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Mizuho reduced their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Finally, Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.50.

Edison International Company 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.