Edison International (NYSE:EIX) Holdings Trimmed by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC cut its holdings in Edison International (NYSE:EIX) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,526 shares of the utilities provider’s stock after selling 815 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Edison International were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Trust Direct Indexing L.P. raised its holdings in shares of Edison International by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock worth $418,000 after acquiring an additional 162 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Edison International by 2.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 164 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Edison International by 3.9% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock valued at $281,000 after buying an additional 165 shares during the last quarter. Greenleaf Trust grew its stake in shares of Edison International by 2.9% in the 3rd quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock valued at $410,000 after buying an additional 185 shares in the last quarter. Finally, Cable Hill Partners LLC increased its holdings in Edison International by 6.0% in the third quarter. Cable Hill Partners LLC now owns 3,336 shares of the utilities provider’s stock worth $211,000 after buying an additional 190 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on EIX shares. The Goldman Sachs Group initiated coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Barclays increased their target price on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Mizuho reduced their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report 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 research note on Monday, January 22nd. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.60.

Edison International Trading Up 1.7 %

Shares of Edison International stock opened at $71.33 on Tuesday. The company has a market cap of $27.44 billion, a price-to-earnings ratio of 22.86 and a beta of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The company’s fifty day simple moving average is $69.08 and its 200-day simple moving average is $67.80. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, sell-side analysts expect that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.37%. Edison International’s payout ratio is 100.00%.

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.