Bleakley Financial Group LLC Cuts Holdings in Edison International (NYSE:EIX)

Bleakley Financial Group LLC trimmed its holdings in shares of Edison International (NYSE:EIX) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,277 shares of the utilities provider’s stock after selling 929 shares during the quarter. Bleakley Financial Group LLC’s holdings in Edison International were worth $449,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Peoples Bank OH purchased a new position in Edison International during the fourth quarter valued at approximately $203,000. Nisa Investment Advisors LLC increased its holdings in Edison International by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 39,737 shares of the utilities provider’s stock valued at $2,841,000 after buying an additional 462 shares during the period. International Assets Investment Management LLC purchased a new position in Edison International during the fourth quarter valued at approximately $11,734,000. Asset Management One Co. Ltd. increased its holdings in Edison International by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 201,791 shares of the utilities provider’s stock valued at $14,448,000 after buying an additional 13,648 shares during the period. Finally, Arizona State Retirement System increased its holdings in Edison International by 0.8% during the fourth quarter. Arizona State Retirement System now owns 105,343 shares of the utilities provider’s stock valued at $7,531,000 after buying an additional 858 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on EIX. The Goldman Sachs Group began coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Barclays lifted their price target on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Mizuho cut their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.60.

Edison International Price Performance

Shares of EIX opened at $68.63 on Monday. 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. 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 price is $68.16 and its 200-day moving average price is $67.26.

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

Edison International Announces Dividend

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

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.