International Assets Investment Management LLC Takes Position in Edison International (NYSE:EIX)

International Assets Investment Management LLC acquired a new stake in Edison International (NYSE:EIX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 164,137 shares of the utilities provider’s stock, valued at approximately $11,734,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. RVW Wealth LLC purchased a new position in shares of Edison International in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Edison International in the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co raised its position in shares of Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Ancora Advisors LLC purchased a new position in Edison International during the 1st quarter worth approximately $41,000. Finally, Lindbrook Capital LLC raised its position in Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after buying an additional 397 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Barclays raised their price target on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Finally, Mizuho dropped their price target 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus price target of $73.60.

Edison International Stock Down 0.3 %

Shares of NYSE:EIX opened at $68.63 on Friday. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The firm has a market capitalization of $26.40 billion, a PE ratio of 22.00 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The firm’s 50-day moving average is $68.16 and its two-hundred day moving average is $67.23.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the company posted $1.14 earnings per share. Analysts predict that Edison International will post 5.01 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio is presently 100.00%.

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.