LPL Financial LLC Sells 4,880 Shares of Edison International (NYSE:EIX)

LPL Financial LLC lowered its stake in shares of Edison International (NYSE:EIX) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,786 shares of the utilities provider’s stock after selling 4,880 shares during the quarter. LPL Financial LLC’s holdings in Edison International were worth $18,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crews Bank & Trust bought a new stake in Edison International during the fourth quarter valued at about $25,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Sierra Ocean LLC acquired a new stake in Edison International in the 4th quarter valued at approximately $33,000. ST Germain D J Co. Inc. increased its position in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after buying an additional 200 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of 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 buying an additional 311 shares during 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 several research analyst reports. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. The Goldman Sachs Group decreased their target price 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. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Mizuho decreased their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Stock Up 1.3 %

EIX opened at $58.95 on Tuesday. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm’s 50-day simple moving average is $54.93 and its 200-day simple moving average is $72.24. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.61%. Edison International’s dividend payout ratio (DPR) is presently 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.