2,656 Shares in Edison International (NYSE:EIX) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,656 shares of the utilities provider’s stock, valued at approximately $212,000.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Edison International in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new position in shares of Edison International in the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. increased its position in shares of Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 311 shares in the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the period. Finally, Versant Capital Management Inc lifted its position in Edison International by 171.5% in the 4th quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 283 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on EIX. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays dropped their target price on Edison International from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley boosted their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Finally, UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.75.

Edison International Stock Up 1.8 %

EIX stock opened at $57.37 on Friday. The business’s 50 day simple moving average is $55.34 and its 200 day simple moving average is $69.44. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The firm has a market capitalization of $22.09 billion, a PE ratio of 16.82, a PEG ratio of 1.07 and a beta of 0.74. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released 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). 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 anticipate that Edison International will post 4.95 EPS for the current 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 given 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 yield of 5.77%. 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.