Legacy Capital Wealth Partners LLC Sells 815 Shares of Edison International (NYSE:EIX)

Legacy Capital Wealth Partners LLC decreased its holdings in shares of Edison International (NYSE:EIX) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,526 shares of the utilities provider’s stock after selling 815 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Edison International were worth $252,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EIX. Deutsche Bank AG increased its stake in shares of Edison International by 266.3% in the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock valued at $272,725,000 after acquiring an additional 3,132,877 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Edison International by 62.1% during the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock valued at $108,236,000 after purchasing an additional 580,117 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Edison International by 8.9% during the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after purchasing an additional 558,351 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Edison International by 166.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 750,442 shares of the utilities provider’s stock worth $47,523,000 after purchasing an additional 468,594 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Edison International by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after buying an additional 317,297 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 1.7 %

Shares of EIX stock opened at $71.33 on Tuesday. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The company has a 50-day simple moving average of $69.08 and a two-hundred day simple moving average of $67.80. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The company has a market capitalization of $27.44 billion, a price-to-earnings ratio of 22.86 and a beta of 0.96.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same period last year, the company posted $1.14 earnings per share. Research analysts anticipate that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.37%. Edison International’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reduced their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Mizuho dropped their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $73.60.

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.