Thrivent Financial for Lutherans Cuts Stake in Edison International (NYSE:EIX)

Thrivent Financial for Lutherans cut its holdings in shares of Edison International (NYSE:EIX) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,538 shares of the utilities provider’s stock after selling 2,557 shares during the period. Thrivent Financial for Lutherans’ holdings in Edison International were worth $1,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its position in Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after buying an additional 174 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 176 shares during the last quarter. Old Port Advisors increased its holdings in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after acquiring an additional 180 shares in the last quarter. Larson Financial Group LLC raised its position 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 valued at $31,000 after purchasing an additional 195 shares during the last quarter. Finally, Centre Asset Management LLC boosted its stake in Edison International by 8.1% in the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 1.6 %

Shares of EIX stock opened at $58.20 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a 50 day moving average of $55.00 and a 200 day moving average of $72.50. The stock has a market cap of $22.41 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted 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). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is currently 100.30%.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group reduced their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

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.