Ellevest Inc. Cuts Stock Holdings in Edison International (NYSE:EIX)

Ellevest Inc. cut its position in shares of Edison International (NYSE:EIX) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,915 shares of the utilities provider’s stock after selling 444 shares during the quarter. Ellevest Inc.’s holdings in Edison International were worth $552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Edison International during the 4th quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Edison International during the fourth quarter worth approximately $33,000. Raleigh Capital Management Inc. boosted its position in Edison International by 285.3% during the fourth 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. Bellwether Advisors LLC acquired a new stake in Edison International in the fourth quarter valued at approximately $34,000. Finally, ST Germain D J Co. Inc. increased its position in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Mizuho decreased their price target on shares of 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, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $76.96.

Edison International Trading Up 0.1 %

Shares of EIX opened at $56.20 on Friday. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The firm has a market capitalization of $21.62 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.07 and a beta of 0.77. The firm has a 50-day moving average price of $56.70 and a 200 day moving average price of $66.26. 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 (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 46.95%.

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.