Principal Securities Inc. Cuts Stake in Edison International (NYSE:EIX)

Principal Securities Inc. lowered its holdings in shares of Edison International (NYSE:EIX) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,652 shares of the utilities provider’s stock after selling 3,668 shares during the quarter. Principal Securities Inc.’s holdings in Edison International were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EIX. Crews Bank & Trust purchased a new stake in shares of Edison International during the fourth quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Edison International during the third quarter worth about $26,000. Groupama Asset Managment grew its position in shares of Edison International by 0.8% during 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 in the last quarter. Eastern Bank purchased a new position in Edison International during the 3rd quarter valued at approximately $27,000. Finally, Larson Financial Group LLC grew its holdings in Edison International by 125.0% during 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. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $52.39 on Thursday. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $20.28 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.03 and a beta of 0.90. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $78.08.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays cut their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

About Edison International

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.