Wealthfront Advisers LLC Has $455,000 Stock Holdings in Edison International (NYSE:EIX)

Wealthfront Advisers LLC lessened its stake in Edison International (NYSE:EIX) by 91.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,702 shares of the utilities provider’s stock after selling 57,331 shares during the quarter. Wealthfront Advisers LLC’s holdings in Edison International were worth $455,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EIX. Assetmark Inc. increased its stake in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares during the period. Apollon Wealth Management LLC acquired a new position in Edison International in the 3rd quarter valued at approximately $259,000. Oppenheimer Asset Management Inc. increased its stake in Edison International by 3.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,892 shares of the utilities provider’s stock valued at $949,000 after buying an additional 407 shares during the period. Huntington National Bank increased its stake in Edison International by 30.8% in the 3rd quarter. Huntington National Bank now owns 5,013 shares of the utilities provider’s stock valued at $437,000 after buying an additional 1,179 shares during the period. Finally, KBC Group NV increased its stake in shares of Edison International by 93.3% during the 3rd quarter. KBC Group NV now owns 49,578 shares of the utilities provider’s stock worth $4,318,000 after purchasing an additional 23,935 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 2.1 %

Shares of Edison International stock opened at $57.01 on Monday. The stock has a market capitalization of $21.95 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a 50-day simple moving average of $56.56 and a 200 day simple moving average of $74.41. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.81%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is presently 100.30%.

Analyst Ratings Changes

EIX has been the topic of several analyst reports. Barclays dropped their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.54.

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.