HighPoint Advisor Group LLC Reduces Stock Position in Edison International (NYSE:EIX)

HighPoint Advisor Group LLC cut its holdings in Edison International (NYSE:EIX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,612 shares of the utilities provider’s stock after selling 210 shares during the period. HighPoint Advisor Group LLC’s holdings in Edison International were worth $688,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EIX. Jamison Private Wealth Management Inc. raised its position in shares of Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock worth $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 176 shares in the last quarter. Old Port Advisors lifted its position in shares of Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after buying an additional 180 shares during the last quarter. Centre Asset Management LLC boosted its holdings in shares of Edison International by 8.1% in the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock valued at $212,000 after buying an additional 199 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of 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 valued at $34,000 after buying an additional 200 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE:EIX opened at $58.76 on Wednesday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a 50-day moving average price of $54.86 and a 200 day moving average price of $72.05. The company has a market cap of $22.62 billion, a P/E ratio of 17.23, a PEG ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.63%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analysts Set New Price Targets

Several equities analysts have issued reports on EIX shares. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley upped their target price on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. 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 report on Friday, February 28th. Barclays decreased their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group cut their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Company 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.