Bleakley Financial Group LLC Cuts Stock Position in Edison International (NYSE:EIX)

Bleakley Financial Group LLC lowered its stake in Edison International (NYSE:EIX) by 12.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,277 shares of the utilities provider’s stock after selling 929 shares during the period. Bleakley Financial Group LLC’s holdings in Edison International were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. RVW Wealth LLC bought a new position in Edison International in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Edison International in the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co lifted its position in Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares in the last quarter. Ancora Advisors LLC bought a new position in Edison International in the 1st quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC lifted its position in Edison International by 144.4% in the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $68.63 on Monday. Edison International has a one year low of $58.82 and a one year high of $74.92. The stock’s fifty day moving average is $68.16 and its 200 day moving average is $67.26. The stock has a market cap of $26.40 billion, a P/E ratio of 22.00 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period last year, the firm earned $1.14 EPS. Sell-side analysts anticipate that Edison International will post 5.01 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.55%. Edison International’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EIX shares. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Mizuho lowered their price target on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Barclays increased their price target on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $73.60.

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.