ProVise Management Group LLC reduced its holdings in Edison International (NYSE:EIX - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,523 shares of the utilities provider's stock after selling 8,473 shares during the period. ProVise Management Group LLC's holdings in Edison International were worth $4,912,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Generali Asset Management SPA SGR purchased a new position in Edison International during the fourth quarter worth about $7,087,000. Cozad Asset Management Inc. raised its stake in Edison International by 26.9% during the fourth quarter. Cozad Asset Management Inc. now owns 3,205 shares of the utilities provider's stock worth $256,000 after purchasing an additional 680 shares during the period. Cibc World Markets Corp increased its position in shares of Edison International by 16.6% during the fourth quarter. Cibc World Markets Corp now owns 61,064 shares of the utilities provider's stock valued at $4,875,000 after acquiring an additional 8,695 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Edison International by 0.6% during the fourth quarter. Corient Private Wealth LLC now owns 56,285 shares of the utilities provider's stock valued at $4,494,000 after acquiring an additional 351 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Edison International by 35.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,321 shares of the utilities provider's stock valued at $984,000 after acquiring an additional 3,233 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. Mizuho dropped 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 report on Monday, March 3rd. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Morgan Stanley lifted their price objective on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.82.
Read Our Latest Stock Report on EIX
Edison International Stock Down 1.0 %
Shares of NYSE:EIX traded down $0.60 during trading on Friday, hitting $58.32. 11,828,288 shares of the company were exchanged, compared to its average volume of 2,664,616. The stock has a market capitalization of $22.45 billion, a P/E ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. 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 12-month low of $49.06 and a 12-month high of $88.77. The firm's 50 day moving average price is $55.24 and its 200-day moving average price is $73.51.
Edison International (NYSE:EIX - Get Free Report) last issued 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. On average, research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.
Edison International Announces Dividend
The firm 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 yield of 5.68%. Edison International's dividend payout ratio (DPR) is 100.30%.
Edison International Company Profile
(
Free Report)
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.
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