Cerity Partners LLC Boosts Holdings in Edison International (NYSE:EIX)

Cerity Partners LLC raised its holdings in Edison International (NYSE:EIX) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 78,191 shares of the utilities provider’s stock after acquiring an additional 1,909 shares during the period. Cerity Partners LLC’s holdings in Edison International were worth $5,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Seelaus Asset Management LLC purchased a new stake in Edison International in the 4th quarter valued at about $383,000. International Assets Investment Management LLC purchased a new stake in shares of Edison International during the 4th quarter worth about $11,734,000. Peoples Bank OH purchased a new stake in shares of Edison International during the 4th quarter worth about $203,000. Nisa Investment Advisors LLC grew its holdings in shares of Edison International by 1.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 39,737 shares of the utilities provider’s stock worth $2,841,000 after purchasing an additional 462 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Edison International by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 201,791 shares of the utilities provider’s stock worth $14,448,000 after purchasing an additional 13,648 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EIX. TheStreet cut Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada reduced their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Mizuho reduced their price target on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $73.60.

Edison International Stock Performance

Shares of EIX opened at $66.79 on Wednesday. The business’s 50 day moving average is $68.24 and its two-hundred day moving average is $67.31. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 21.41 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period in the prior year, the company posted $1.14 EPS. Analysts forecast that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Wednesday, March 27th. Edison International’s payout ratio is 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.