Axxcess Wealth Management LLC Has $478,000 Stock Holdings in Edison International (NYSE:EIX)

Axxcess Wealth Management LLC lifted its position in Edison International (NYSE:EIX) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,681 shares of the utilities provider’s stock after purchasing an additional 220 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Edison International were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EIX. Bruce G. Allen Investments LLC bought a new stake in Edison International during the fourth quarter worth about $27,000. WASHINGTON TRUST Co grew its position in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 270 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Edison International by 144.4% during the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 397 shares in the last quarter. Authentikos Wealth Advisory LLC bought a new position in Edison International in the 3rd quarter valued at $47,000. Finally, GAMMA Investing LLC bought a new position in Edison International in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $73.87 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $28.42 billion, a P/E ratio of 32.40 and a beta of 0.95. The business has a 50-day moving average of $69.67 and a 200-day moving average of $68.10. Edison International has a 1 year low of $58.82 and a 1 year high of $74.40.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the firm earned $1.09 EPS. Edison International’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio is currently 136.84%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Mizuho lowered their target price on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Finally, Barclays lifted their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Edison International has an average rating of “Hold” and an average price target of $72.78.

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.