Pinnacle Wealth Management Advisory Group LLC Makes New $203,000 Investment in Edison International (NYSE:EIX)

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,841 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in shares of Edison International by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock worth $842,826,000 after buying an additional 197,259 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Edison International by 3.3% in the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after purchasing an additional 317,297 shares during the period. Clearbridge Investments LLC increased its stake in Edison International by 8.9% in the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after purchasing an additional 558,351 shares during the last quarter. Legal & General Group Plc lifted its position in Edison International by 2.0% during the third quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock worth $353,840,000 after buying an additional 108,138 shares during the period. Finally, Northern Trust Corp boosted its stake in Edison International by 3.9% in the 3rd quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock worth $280,294,000 after buying an additional 165,734 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of several research analyst reports. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Royal Bank of Canada cut their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Mizuho lowered their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Barclays raised their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.78.

Edison International Stock Performance

EIX opened at $74.54 on Friday. Edison International has a twelve month low of $58.82 and a twelve month high of $74.88. The stock has a market cap of $28.68 billion, a PE ratio of 32.79 and a beta of 0.95. The business’s 50 day moving average is $69.79 and its 200-day moving average is $68.14. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. On average, analysts predict that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.78 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.19%. Edison International’s payout ratio is currently 136.84%.

Edison International Company 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.