Sequoia Financial Advisors LLC Acquires 2,631 Shares of Edison International (NYSE:EIX)

Sequoia Financial Advisors LLC lifted its holdings in shares of Edison International (NYSE:EIX) by 35.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,038 shares of the utilities provider’s stock after purchasing an additional 2,631 shares during the period. Sequoia Financial Advisors LLC’s holdings in Edison International were worth $801,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EIX. FMR LLC grew its holdings in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Edison International during the fourth quarter valued at $39,344,000. AustralianSuper Pty Ltd acquired a new position in shares of Edison International during the fourth quarter valued at $31,877,000. Victory Capital Management Inc. lifted its stake in shares of Edison International by 74.6% during the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after acquiring an additional 387,215 shares during the period. Finally, Miller Howard Investments Inc. NY lifted its stake in shares of Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after acquiring an additional 291,619 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 2.1 %

NYSE EIX opened at $57.01 on Monday. The firm has a market cap of $21.95 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock’s 50-day moving average is $56.56 and its 200-day moving average is $74.41. Edison International has a one year low of $49.06 and a one year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for 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%. Sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.81%. Edison International’s dividend payout ratio is 100.30%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EIX shares. The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

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.