Visionary Horizons LLC Decreases Position in Edison International (NYSE:EIX)

Visionary Horizons LLC decreased its holdings in Edison International (NYSE:EIX) by 3.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,630 shares of the utilities provider’s stock after selling 300 shares during the quarter. Visionary Horizons LLC’s holdings in Edison International were worth $609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Entropy Technologies LP increased its stake in Edison International by 69.9% during the 4th quarter. Entropy Technologies LP now owns 62,916 shares of the utilities provider’s stock valued at $5,023,000 after purchasing an additional 25,889 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Edison International by 35.5% during the fourth quarter. Empowered Funds LLC now owns 8,664 shares of the utilities provider’s stock valued at $692,000 after buying an additional 2,272 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Edison International by 49.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,231 shares of the utilities provider’s stock valued at $258,000 after buying an additional 1,067 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Edison International by 22.1% in the 4th quarter. Apollon Wealth Management LLC now owns 3,628 shares of the utilities provider’s stock valued at $290,000 after acquiring an additional 657 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Edison International in the 4th quarter worth $252,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research reports. Barclays cut their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, UBS Group decreased their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International Price Performance

Shares of Edison International stock opened at $49.99 on Friday. The firm has a market cap of $19.36 billion, a PE ratio of 14.66, a P/E/G ratio of 1.05 and a beta of 0.90. Edison International has a twelve month low of $49.92 and a twelve month 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 business has a 50-day moving average price of $70.50 and a 200 day moving average price of $79.43.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.62%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio is presently 97.07%.

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.