Sawtooth Solutions LLC Takes $426,000 Position in Edison International (EIX)

Sawtooth Solutions LLC acquired a new stake in Edison International (NYSE:EIX) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,699 shares of the utilities provider’s stock, valued at approximately $426,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC increased its position in shares of Edison International by 35.8% in the 1st quarter. ETRADE Capital Management LLC now owns 35,064 shares of the utilities provider’s stock valued at $2,232,000 after buying an additional 9,236 shares in the last quarter. MUFG Americas Holdings Corp increased its position in shares of Edison International by 1.4% in the 1st quarter. MUFG Americas Holdings Corp now owns 72,813 shares of the utilities provider’s stock valued at $4,636,000 after buying an additional 1,026 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Edison International by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,227,600 shares of the utilities provider’s stock valued at $78,150,000 after buying an additional 72,527 shares in the last quarter. Eaton Vance Management increased its position in shares of Edison International by 111.8% in the 1st quarter. Eaton Vance Management now owns 1,134,422 shares of the utilities provider’s stock valued at $72,217,000 after buying an additional 598,815 shares in the last quarter. Finally, Wealthfront Inc. increased its position in shares of Edison International by 40.1% in the 1st quarter. Wealthfront Inc. now owns 15,565 shares of the utilities provider’s stock valued at $991,000 after buying an additional 4,454 shares in the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.

EIX has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Edison International from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Edward Jones upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Thursday, April 5th. Citigroup restated a “hold” rating and issued a $66.00 price objective on shares of Edison International in a research report on Monday, January 22nd. SunTrust Banks set a $72.00 price objective on shares of Edison International and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, UBS initiated coverage on shares of Edison International in a research report on Friday, February 2nd. They issued a “neutral” rating and a $67.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $76.92.

Edison International opened at $61.42 on Thursday, Marketbeat.com reports. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.65 and a beta of 0.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.59. Edison International has a 1 year low of $61.31 and a 1 year high of $61.83.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, May 1st. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.11). The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. Edison International had a return on equity of 10.22% and a net margin of 4.38%. Edison International’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. sell-side analysts forecast that Edison International will post 4.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Thursday, March 29th were issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Wednesday, March 28th. Edison International’s dividend payout ratio (DPR) is presently 53.78%.

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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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