Frank Rimerman Advisors LLC Buys 301 Shares of Edison International (NYSE:EIX)

Frank Rimerman Advisors LLC raised its stake in Edison International (NYSE:EIX) by 10.2% in the fourth quarter, Holdings Channel reports. The firm owned 3,244 shares of the utilities provider’s stock after acquiring an additional 301 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Edison International were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Crews Bank & Trust bought a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Edison International during the 3rd quarter worth approximately $32,000. Darwin Wealth Management LLC bought a new position in shares of Edison International during the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Edison International during the 4th quarter worth approximately $33,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of NYSE EIX opened at $58.94 on Tuesday. The stock has a market capitalization of $22.69 billion, a PE ratio of 17.29, a P/E/G ratio of 1.07 and a beta of 0.87. 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 business has a fifty day moving average price of $56.17 and a two-hundred day moving average price of $74.21. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.62%. Edison International’s dividend payout ratio is presently 100.30%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley reduced their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.54.

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.