Steward Partners Investment Advisory LLC Grows Stake in Edison International (NYSE:EIX)

Steward Partners Investment Advisory LLC increased its stake in Edison International (NYSE:EIX) by 50.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,776 shares of the utilities provider’s stock after acquiring an additional 3,297 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Edison International were worth $781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Crews Bank & Trust purchased a new position in Edison International in the fourth quarter worth about $25,000. Groupama Asset Managment grew its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares in the last quarter. Larson Financial Group LLC grew its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Edison International in the third quarter worth about $32,000. Finally, Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EIX shares. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley dropped their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Mizuho dropped their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.54.

Edison International Stock Performance

Shares of NYSE:EIX opened at $57.03 on Tuesday. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $58.46 and a 200 day moving average of $75.22.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 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.