Axxcess Wealth Management LLC Has $338,000 Stake in Edison International (NYSE:EIX)

Axxcess Wealth Management LLC trimmed its position in shares of Edison International (NYSE:EIX) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,238 shares of the utilities provider’s stock after selling 453 shares during the period. Axxcess Wealth Management LLC’s holdings in Edison International were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EIX. Crews Bank & Trust acquired a new stake in Edison International during the fourth quarter worth about $25,000. Groupama Asset Managment grew its stake in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Edison International in the 3rd quarter valued at approximately $32,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Edison International in the 4th quarter valued at approximately $33,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley raised their price target on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company cut 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 report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

NYSE:EIX opened at $58.32 on Friday. The company has a fifty day moving average of $55.24 and a 200-day moving average of $73.51. The firm has a market capitalization of $22.45 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share 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 the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, sell-side 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. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International’s dividend payout ratio is currently 100.30%.

Edison International 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.