Sequoia Financial Advisors LLC Has $757,000 Stake in Edison International (NYSE:EIX)

Sequoia Financial Advisors LLC reduced its position in shares of Edison International (NYSE:EIX) by 89.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,583 shares of the utilities provider’s stock after selling 88,566 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Edison International were worth $757,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Edison International by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after acquiring an additional 137,840 shares in the last quarter. Aviva PLC lifted its position in shares of Edison International by 21.5% in the first quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock worth $10,596,000 after purchasing an additional 26,797 shares in the last quarter. Prudential PLC acquired a new stake in shares of Edison International during the first quarter worth approximately $688,000. Cetera Investment Advisers grew its position in Edison International by 30.5% during the first quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 1,617 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Edison International by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock valued at $3,121,569,000 after buying an additional 731,841 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Royal Bank of Canada cut their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group initiated coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.60.

Edison International Price Performance

Shares of Edison International stock opened at $67.88 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The firm has a fifty day simple moving average of $68.21 and a 200-day simple moving average of $67.29. The stock has a market capitalization of $26.11 billion, a price-to-earnings ratio of 21.76 and a beta of 0.96. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the firm posted $1.14 EPS. On average, sell-side analysts expect that Edison International will post 5.01 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 4.60%. 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.