Envestnet Portfolio Solutions Inc. Buys 3,233 Shares of Edison International (NYSE:EIX)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Edison International (NYSE:EIX) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,321 shares of the utilities provider’s stock after buying an additional 3,233 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Edison International were worth $984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in Edison International during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Edison International in the 4th quarter worth $33,000. Raleigh Capital Management Inc. increased its holdings in shares of Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 311 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho reduced 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. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Barclays reduced their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price target on 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 investment 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. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Price Performance

NYSE EIX opened at $58.32 on Monday. The company has a market capitalization of $22.45 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The business’s fifty day moving average is $55.24 and its 200 day moving average is $73.41. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.68%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.