Pinnacle Wealth Management Advisory Group LLC Buys Shares of 2,841 Edison International (NYSE:EIX)

Pinnacle Wealth Management Advisory Group LLC purchased a new position in Edison International (NYSE:EIX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,841 shares of the utilities provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ausbil Investment Management Ltd grew its stake in shares of Edison International by 54.7% in the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after acquiring an additional 47,784 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Edison International in the fourth quarter worth about $11,734,000. California Public Employees Retirement System raised its holdings in Edison International by 62.1% in the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after buying an additional 580,117 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Edison International by 1.5% in the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after buying an additional 834 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock valued at $30,222,000 after buying an additional 5,220 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on EIX shares. Barclays upped their price objective on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.78.

Edison International Stock Down 0.3 %

Shares of EIX stock opened at $74.54 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. Edison International has a 12 month low of $58.82 and a 12 month high of $74.88. The stock has a market cap of $28.68 billion, a P/E ratio of 32.79 and a beta of 0.95. The company has a 50 day simple moving average of $69.79 and a two-hundred day simple moving average of $68.14.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. Edison International’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. On average, research analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.78 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.19%. Edison International’s payout ratio is currently 136.84%.

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.