ProVise Management Group LLC Has $4.91 Million Stock Position in Edison International (NYSE:EIX)

ProVise Management Group LLC decreased its position in Edison International (NYSE:EIX) by 12.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,523 shares of the utilities provider’s stock after selling 8,473 shares during the period. ProVise Management Group LLC’s holdings in Edison International were worth $4,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB grew its holdings in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Edison International in the 4th quarter valued at $235,000. KBC Group NV grew its holdings in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after buying an additional 11,764 shares during the period. abrdn plc grew its holdings in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after buying an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after acquiring an additional 76,654 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on EIX shares. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Barclays cut their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.

Edison International Stock Down 0.4 %

Edison International stock opened at $58.74 on Wednesday. The firm has a market capitalization of $22.61 billion, a PE ratio of 17.22, a P/E/G ratio of 1.07 and a beta of 0.87. The company’s 50-day moving average is $55.80 and its 200-day moving average is $74.01. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

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 firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company 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 dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.64%. Edison International’s dividend payout ratio is presently 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.