Edison International (NYSE:EIX) Shares Sold by Net Worth Advisory Group

Net Worth Advisory Group trimmed its position in Edison International (NYSE:EIX) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,965 shares of the utilities provider’s stock after selling 416 shares during the period. Net Worth Advisory Group’s holdings in Edison International were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Independent Advisor Alliance increased its position in shares of Edison International by 32.5% in the 4th quarter. Independent Advisor Alliance now owns 6,604 shares of the utilities provider’s stock valued at $527,000 after acquiring an additional 1,619 shares during the period. Meriwether Wealth & Planning LLC acquired a new stake in Edison International during the 4th quarter worth about $239,000. Johnson Investment Counsel Inc. grew its position in Edison International by 20.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 4,072 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 688 shares during the period. Daiwa Securities Group Inc. grew its position in Edison International by 4.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 59,010 shares of the utilities provider’s stock worth $4,711,000 after purchasing an additional 2,259 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Edison International by 3.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 458,916 shares of the utilities provider’s stock worth $36,640,000 after purchasing an additional 15,714 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EIX. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Mizuho cut their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.54.

Edison International Trading Up 1.1 %

Shares of Edison International stock opened at $57.03 on Tuesday. The firm has a market capitalization of $21.96 billion, a PE ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The firm’s 50-day moving average price is $58.46 and its 200 day moving average price is $75.22. 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 issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during 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%. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

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.