Main Street Group LTD Has $56,000 Holdings in Edison International (NYSE:EIX)

Main Street Group LTD lifted its position in shares of Edison International (NYSE:EIX) by 600.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 700 shares of the utilities provider’s stock after acquiring an additional 600 shares during the quarter. Main Street Group LTD’s holdings in Edison International were worth $56,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Edison International in the fourth quarter valued at about $25,000. Sierra Ocean LLC acquired a new position in shares of Edison International in the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. raised its holdings in Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after buying an additional 311 shares during the last quarter. Bellwether Advisors LLC bought a new position in Edison International in the 4th quarter valued at approximately $34,000. Finally, OFI Invest Asset Management acquired a new stake in Edison International during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EIX. Barclays upped their price target on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Morgan Stanley restated an “overweight” rating on shares of Edison International in a report on Wednesday, April 23rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average price target of $76.96.

Edison International Trading Down 0.6%

NYSE EIX opened at $56.22 on Wednesday. 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 has a 52 week low of $49.06 and a 52 week high of $88.77. The business has a 50 day moving average price of $56.75 and a 200-day moving average price of $65.73. The company has a market cap of $21.63 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.07 and a beta of 0.77.

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

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s payout ratio is presently 46.95%.

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.