Edison International (NYSE:EIX) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance boosted its stake in shares of Edison International (NYSE:EIX) by 32.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,604 shares of the utilities provider’s stock after buying an additional 1,619 shares during the period. Independent Advisor Alliance’s holdings in Edison International were worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Edison International during the fourth quarter worth $25,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Larson Financial Group LLC raised its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC purchased a new stake in Edison International in the third quarter valued at $32,000. Finally, Sierra Ocean LLC purchased a new stake in Edison International in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 3.4 %

Shares of Edison International stock opened at $58.94 on Tuesday. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a 50 day moving average of $56.17 and a 200 day moving average of $74.21. 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 market capitalization of $22.69 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last issued its quarterly 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. As a group, research analysts forecast that Edison International will post 4.95 EPS 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 issued a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.62%. Edison International’s payout ratio is currently 100.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Barclays reduced their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Morgan Stanley cut their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.