Lake Street Advisors Group LLC Boosts Stock Position in Edison International (NYSE:EIX)

Lake Street Advisors Group LLC grew its stake in Edison International (NYSE:EIX) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,477 shares of the utilities provider’s stock after purchasing an additional 462 shares during the period. Lake Street Advisors Group LLC’s holdings in Edison International were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC purchased a new position in Edison International in the third quarter worth approximately $32,000. Darwin Wealth Management LLC purchased a new position in Edison International in the third quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter worth approximately $33,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EIX has been the subject of several analyst reports. Barclays lowered their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.75.

Edison International Stock Up 6.0 %

Shares of NYSE EIX opened at $54.45 on Friday. The stock has a market cap of $21.08 billion, a P/E ratio of 15.97, a PEG ratio of 1.07 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The business’s fifty day simple moving average is $61.38 and its 200-day simple moving average is $76.50.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business 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 $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is currently 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.