Institute for Wealth Management LLC. Takes Position in Edison International (NYSE:EIX)

Institute for Wealth Management LLC. bought a new position in Edison International (NYSE:EIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,909 shares of the utilities provider’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EIX. Fidelis Capital Partners LLC increased its position in Edison International by 11.2% during the 4th quarter. Fidelis Capital Partners LLC now owns 8,245 shares of the utilities provider’s stock worth $589,000 after purchasing an additional 829 shares in the last quarter. Xponance Inc. raised its stake in shares of Edison International by 5.1% in the 4th quarter. Xponance Inc. now owns 51,612 shares of the utilities provider’s stock valued at $3,690,000 after acquiring an additional 2,525 shares during the period. SFE Investment Counsel lifted its holdings in shares of Edison International by 1.3% during the 4th quarter. SFE Investment Counsel now owns 33,320 shares of the utilities provider’s stock valued at $2,382,000 after acquiring an additional 430 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Edison International by 1.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 195,650 shares of the utilities provider’s stock worth $13,987,000 after purchasing an additional 2,972 shares during the period. Finally, Flputnam Investment Management Co. acquired a new stake in Edison International in the 4th quarter valued at $213,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on EIX shares. Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group began coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has a consensus rating of “Hold” and an average price target of $73.60.

Edison International Price Performance

Shares of NYSE EIX opened at $69.93 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $26.90 billion, a price-to-earnings ratio of 22.41 and a beta of 0.96. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92. The business has a 50 day simple moving average of $68.46 and a 200-day simple moving average of $67.47.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same period in the previous year, the business posted $1.14 EPS. As a group, equities research analysts expect that Edison International will post 4.98 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is 100.00%.

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.