Integrated Wealth Concepts LLC Grows Position in Edison International (NYSE:EIX)

Integrated Wealth Concepts LLC lifted its stake in Edison International (NYSE:EIX) by 9.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,952 shares of the utilities provider’s stock after purchasing an additional 1,753 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Edison International were worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after acquiring an additional 1,559,501 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after acquiring an additional 362,999 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Edison International by 1.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock worth $409,865,000 after acquiring an additional 50,451 shares during the period. Invesco Ltd. raised its stake in Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock worth $384,560,000 after acquiring an additional 1,331,941 shares during the period. Finally, Norges Bank bought a new stake in Edison International during the 4th quarter worth approximately $323,443,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. UBS Group upgraded shares of 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 research note on Tuesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Finally, Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

Edison International Stock Performance

Edison International stock opened at $58.35 on Tuesday. The company’s 50-day moving average price is $56.24 and its 200-day moving average price is $67.86. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $22.47 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX) last posted its earnings results 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. On average, equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.67%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.