Laird Norton Wetherby Wealth Management LLC Increases Stake in Edison International (NYSE:EIX)

Laird Norton Wetherby Wealth Management LLC grew its position in Edison International (NYSE:EIX) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,766 shares of the utilities provider’s stock after acquiring an additional 679 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Edison International were worth $860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after purchasing an additional 362,999 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Edison International by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock worth $409,865,000 after purchasing an additional 50,451 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Edison International by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock worth $384,560,000 after purchasing an additional 1,331,941 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.4%

NYSE:EIX opened at $56.41 on Thursday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a 50-day moving average of $56.75 and a 200 day moving average of $65.67. The firm has a market cap of $21.70 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. 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 (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were issued a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.87%. Edison International’s dividend payout ratio (DPR) is presently 46.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average price target of $76.96.

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.