Marks Group Wealth Management Inc Boosts Position in Edison International (NYSE:EIX)

Marks Group Wealth Management Inc lifted its holdings in Edison International (NYSE:EIX) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,260 shares of the utilities provider’s stock after acquiring an additional 6,096 shares during the period. Marks Group Wealth Management Inc’s holdings in Edison International were worth $2,807,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. HB Wealth Management LLC grew its stake in shares of Edison International by 26.8% in the third quarter. HB Wealth Management LLC now owns 3,760 shares of the utilities provider’s stock valued at $238,000 after buying an additional 795 shares in the last quarter. Founders Financial Securities LLC raised its stake in shares of Edison International by 13.3% during the third quarter. Founders Financial Securities LLC now owns 13,890 shares of the utilities provider’s stock valued at $879,000 after purchasing an additional 1,630 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Edison International by 38.8% during the third quarter. Exchange Traded Concepts LLC now owns 1,592 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 445 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Edison International by 10.2% in the third quarter. Caprock Group LLC now owns 12,560 shares of the utilities provider’s stock valued at $804,000 after purchasing an additional 1,165 shares during the period. Finally, UMB Bank n.a. grew its holdings in Edison International by 17.9% during the 3rd quarter. UMB Bank n.a. now owns 2,191 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

EIX traded up $0.45 during trading hours on Tuesday, hitting $71.11. 814,123 shares of the stock were exchanged, compared to its average volume of 2,147,622. The stock has a market cap of $27.35 billion, a price-to-earnings ratio of 22.64 and a beta of 0.96. The stock has a 50-day simple moving average of $68.57 and a 200-day simple moving average of $67.54. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the company earned $1.14 earnings per share. Analysts anticipate that Edison International will post 4.98 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.39%. Edison International’s payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada cut their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Mizuho dropped their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Barclays increased their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.60.

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.