Edison International (NYSE:EIX) Shares Purchased by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC lifted its stake in Edison International (NYSE:EIX) by 19.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,944 shares of the utilities provider’s stock after purchasing an additional 1,121 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Edison International were worth $554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Edison International by 16.9% in the third quarter. Barclays PLC now owns 918,489 shares of the utilities provider’s stock valued at $79,991,000 after purchasing an additional 132,749 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Edison International by 119.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 30,014 shares of the utilities provider’s stock worth $2,396,000 after acquiring an additional 16,362 shares during the last quarter. Park Avenue Securities LLC raised its position in Edison International by 10.8% during the fourth quarter. Park Avenue Securities LLC now owns 3,004 shares of the utilities provider’s stock worth $240,000 after acquiring an additional 294 shares during the last quarter. HB Wealth Management LLC raised its position in Edison International by 9.3% during the fourth quarter. HB Wealth Management LLC now owns 5,190 shares of the utilities provider’s stock worth $414,000 after acquiring an additional 443 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in Edison International by 18.6% during the fourth quarter. Ballentine Partners LLC now owns 2,733 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 428 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on EIX shares. Wells Fargo & Company cut their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, Mizuho cut their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Stock Performance

NYSE:EIX opened at $56.17 on Friday. The firm has a 50 day simple moving average of $56.85 and a 200-day simple moving average of $64.63. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $21.61 billion, a PE ratio of 16.47, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date was Monday, April 7th. Edison International’s dividend 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.