Cetera Investment Advisers Has $6.51 Million Position in Edison International (NYSE:EIX)

Cetera Investment Advisers lowered its stake in shares of Edison International (NYSE:EIX) by 23.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,528 shares of the utilities provider’s stock after selling 24,825 shares during the quarter. Cetera Investment Advisers’ holdings in Edison International were worth $6,509,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Centiva Capital LP lifted its holdings in shares of Edison International by 117.3% during the 4th quarter. Centiva Capital LP now owns 7,800 shares of the utilities provider’s stock worth $623,000 after acquiring an additional 4,211 shares during the period. Brevan Howard Capital Management LP raised its stake in Edison International by 462.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 88,012 shares of the utilities provider’s stock worth $7,027,000 after acquiring an additional 72,355 shares in the last quarter. Captrust Financial Advisors raised its stake in Edison International by 17.1% during the fourth quarter. Captrust Financial Advisors now owns 20,812 shares of the utilities provider’s stock worth $1,662,000 after acquiring an additional 3,040 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in Edison International during the fourth quarter worth about $220,000. Finally, Baird Financial Group Inc. raised its stake in Edison International by 111.2% during the fourth quarter. Baird Financial Group Inc. now owns 4,114 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 2,166 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 0.6%

Shares of NYSE EIX opened at $56.51 on Tuesday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The stock has a market cap of $21.74 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The firm has a 50-day moving average of $56.72 and a 200 day moving average of $65.80. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $1.13 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were issued a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.86%. Edison International’s dividend payout ratio is currently 46.95%.

Analyst Ratings Changes

EIX has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays lifted their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Wells Fargo & Company cut their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.96.

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.