Edison International (NYSE:EIX) Stock Position Decreased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its stake in shares of Edison International (NYSE:EIX) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,759 shares of the utilities provider’s stock after selling 5,540 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Edison International were worth $1,518,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EIX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new stake in shares of Edison International during the first quarter worth $1,151,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Edison International by 135.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider’s stock worth $7,297,000 after acquiring an additional 71,159 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Edison International by 4,157.4% during the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after acquiring an additional 141,769 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Edison International by 17.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider’s stock worth $6,324,000 after acquiring an additional 15,718 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on EIX shares. JPMorgan Chase & Co. cut their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 18th. Evercore ISI reissued an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Finally, Barclays increased their target price on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Trading Up 0.0%

EIX opened at $52.57 on Friday. The stock has a market capitalization of $20.23 billion, a P/E ratio of 7.46, a P/E/G ratio of 1.23 and a beta of 0.75. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The firm’s fifty day simple moving average is $54.00 and its 200 day simple moving average is $58.03. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.30%. Edison International’s dividend payout ratio (DPR) is currently 46.95%.

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.