Golden State Wealth Management LLC Reduces Stock Position in Edison International (NYSE:EIX)

Golden State Wealth Management LLC cut its stake in Edison International (NYSE:EIX) by 82.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 542 shares of the utilities provider’s stock after selling 2,614 shares during the period. Golden State Wealth Management LLC’s holdings in Edison International were worth $32,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EIX. Jones Financial Companies Lllp increased its holdings in Edison International by 73.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,595 shares of the utilities provider’s stock valued at $367,000 after buying an additional 1,952 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $44,000. Steward Partners Investment Advisory LLC grew its position in shares of Edison International by 50.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,776 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 3,297 shares during the last quarter. Keybank National Association OH grew its position in shares of Edison International by 11.5% in the fourth quarter. Keybank National Association OH now owns 2,890 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 297 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Edison International by 3,686.1% in the fourth quarter. Assetmark Inc. now owns 24,004 shares of the utilities provider’s stock valued at $1,916,000 after purchasing an additional 23,370 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on EIX shares. JPMorgan Chase & Co. lowered their price target on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, May 19th. Evercore ISI reiterated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Barclays increased their price target on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Morgan Stanley lowered their price target 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. Finally, Wolfe Research lowered shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Stock Up 0.0%

Shares of EIX opened at $52.57 on Monday. The firm has a market cap of $20.23 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The company’s fifty day moving average is $53.90 and its two-hundred day moving average is $57.55. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. Edison International’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. Analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend 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 presently 46.95%.

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.