Edison International (NYSE:EIX) Position Lessened by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its holdings in Edison International (NYSE:EIX) by 91.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,702 shares of the utilities provider’s stock after selling 57,331 shares during the quarter. Wealthfront Advisers LLC’s holdings in Edison International were worth $455,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new position in shares of Edison International in the fourth quarter worth $25,000. Groupama Asset Managment lifted its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC grew its position in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Edison International during the 3rd quarter valued at about $32,000. Finally, Sierra Ocean LLC bought a new stake in shares of Edison International during the 4th quarter worth about $33,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 2.1 %

EIX stock opened at $57.01 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. The firm has a market cap of $21.95 billion, a PE ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The firm has a 50 day simple moving average of $56.56 and a 200 day simple moving average of $74.41.

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

Edison International Announces Dividend

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 given a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.81%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analysts Set New Price Targets

EIX has been the subject of a number of research analyst reports. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group reduced 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. Mizuho reduced their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

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.