Cambridge Investment Research Advisors Inc. trimmed its position in Edison International (NYSE:EIX) by 13.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,504 shares of the utilities provider’s stock after selling 1,863 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Edison International were worth $791,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Edison International during the 4th quarter valued at about $116,000. Captrust Financial Advisors acquired a new position in Edison International during the 4th quarter valued at about $126,000. First Command Financial Services Inc. acquired a new position in Edison International during the 4th quarter valued at about $154,000. Advisory Services Network LLC boosted its stake in Edison International by 1,842.3% during the 4th quarter. Advisory Services Network LLC now owns 2,661 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Amica Retiree Medical Trust boosted its stake in Edison International by 77.6% during the 4th quarter. Amica Retiree Medical Trust now owns 3,165 shares of the utilities provider’s stock valued at $200,000 after purchasing an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.
A number of equities analysts have issued reports on EIX shares. Zacks Investment Research downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Edward Jones downgraded Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Citigroup reiterated a “hold” rating and set a $66.00 price target on shares of Edison International in a research note on Monday, January 22nd. JPMorgan Chase started coverage on Edison International in a research note on Friday, January 12th. They set a “neutral” rating and a $67.00 price target for the company. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $74.00 price target on shares of Edison International in a research note on Friday, December 22nd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $76.86.
Shares of NYSE EIX opened at $63.38 on Monday. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a market capitalization of $20,649.90, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.77 and a beta of 0.13. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.84.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. Edison International had a return on equity of 10.86% and a net margin of 5.59%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the business earned $1.02 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. analysts forecast that Edison International will post 4.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be paid a $0.605 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.82%. Edison International’s payout ratio is presently 53.78%.
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Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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