Axxcess Wealth Management LLC Raises Stake in Edison International (NYSE:EIX)

Axxcess Wealth Management LLC raised its stake in shares of Edison International (NYSE:EIX) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,681 shares of the utilities provider’s stock after buying an additional 220 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Edison International were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Pzena Investment Management LLC grew its position in shares of Edison International by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock valued at $842,826,000 after purchasing an additional 197,259 shares in the last quarter. Wellington Management Group LLP grew its position in Edison International by 3.3% during the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after buying an additional 317,297 shares in the last quarter. Clearbridge Investments LLC increased its stake in Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after acquiring an additional 558,351 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Edison International by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock valued at $353,840,000 after acquiring an additional 108,138 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Edison International by 3.9% during the 3rd quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock valued at $280,294,000 after acquiring an additional 165,734 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective on the stock. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Mizuho lowered their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus price target of $72.78.

Edison International Stock Performance

Shares of EIX opened at $73.87 on Wednesday. The company has a 50-day simple moving average of $69.67 and a two-hundred day simple moving average of $68.10. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a market capitalization of $28.42 billion, a PE ratio of 32.40 and a beta of 0.95. Edison International has a one year low of $58.82 and a one year high of $74.40.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.22%. Edison International’s dividend payout ratio is currently 136.84%.

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.