Alliance Wealth Advisors LLC Reduces Stake in Edison International (NYSE:EIX)

Alliance Wealth Advisors LLC trimmed its holdings in Edison International (NYSE:EIX) by 34.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,748 shares of the utilities provider’s stock after selling 1,947 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Edison International were worth $299,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in Edison International by 9.8% during the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock worth $23,662,000 after acquiring an additional 24,208 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Edison International in the 3rd quarter valued at about $236,000. GAMMA Investing LLC grew its stake in Edison International by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,607 shares of the utilities provider’s stock worth $227,000 after buying an additional 464 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after buying an additional 159 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in shares of Edison International by 6.7% during the third quarter. Atomi Financial Group Inc. now owns 4,360 shares of the utilities provider’s stock worth $380,000 after acquiring an additional 275 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent research reports. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays reduced their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Performance

Edison International stock opened at $49.99 on Friday. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90. Edison International has a 12 month low of $49.92 and a 12 month high of $88.77. The stock’s 50-day moving average is $70.50 and its 200-day moving average is $79.43. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.62%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

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.