Intech Investment Management LLC Has $1.76 Million Stake in Edison International (NYSE:EIX)

Intech Investment Management LLC lowered its holdings in shares of Edison International (NYSE:EIX) by 59.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,085 shares of the utilities provider’s stock after selling 32,348 shares during the quarter. Intech Investment Management LLC’s holdings in Edison International were worth $1,763,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EIX. OneDigital Investment Advisors LLC lifted its stake in Edison International by 7.3% in the third quarter. OneDigital Investment Advisors LLC now owns 3,884 shares of the utilities provider’s stock valued at $338,000 after buying an additional 263 shares in the last quarter. Empowered Funds LLC lifted its stake in Edison International by 9.1% in the 3rd quarter. Empowered Funds LLC now owns 6,392 shares of the utilities provider’s stock valued at $557,000 after purchasing an additional 532 shares during the last quarter. Natixis Advisors LLC grew its holdings in Edison International by 1.0% during the third quarter. Natixis Advisors LLC now owns 151,011 shares of the utilities provider’s stock worth $13,152,000 after purchasing an additional 1,537 shares during the period. Thrivent Financial for Lutherans increased its position in Edison International by 15.4% during the third quarter. Thrivent Financial for Lutherans now owns 23,095 shares of the utilities provider’s stock worth $2,011,000 after buying an additional 3,078 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in Edison International by 51.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock valued at $653,000 after buying an additional 2,554 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent analyst reports. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Morgan Stanley increased their price objective on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Barclays lowered their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Mizuho reduced their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International Trading Up 0.7 %

EIX opened at $58.92 on Friday. 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 has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company’s 50 day moving average price is $55.37 and its two-hundred day moving average price is $73.80. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

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.