Net Worth Advisory Group Sells 416 Shares of Edison International (NYSE:EIX)

Net Worth Advisory Group decreased its holdings in shares of Edison International (NYSE:EIX) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,965 shares of the utilities provider’s stock after selling 416 shares during the quarter. Net Worth Advisory Group’s holdings in Edison International were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EIX. FMR LLC grew its stake in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $39,344,000. AustralianSuper Pty Ltd purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $31,877,000. Victory Capital Management Inc. boosted its holdings in shares of Edison International by 74.6% in the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after purchasing an additional 387,215 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Edison International by 565.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after purchasing an additional 291,619 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $57.03 on Tuesday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The stock has a fifty day moving average price of $58.46 and a 200-day moving average price of $75.22. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $21.96 billion, a PE ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. Edison International’s dividend payout ratio is presently 100.30%.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research reports. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. The Goldman Sachs Group lowered 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. Barclays lowered their price target on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Morgan Stanley lowered their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.54.

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.