Avantax Advisory Services Inc. Grows Position in Edison International (NYSE:EIX)

Avantax Advisory Services Inc. grew its stake in shares of Edison International (NYSE:EIX) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,194 shares of the utilities provider’s stock after buying an additional 391 shares during the period. Avantax Advisory Services Inc.’s holdings in Edison International were worth $3,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in Edison International during the fourth quarter valued at about $25,000. Larson Financial Group LLC lifted its stake in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Edison International during the 3rd quarter worth about $32,000. Darwin Wealth Management LLC acquired a new stake in Edison International during the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter valued at approximately $33,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the subject of several research reports. The Goldman Sachs Group decreased their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Barclays lowered their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

Shares of EIX stock opened at $57.01 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a one year low of $49.06 and a one year high of $88.77. The company’s 50-day simple moving average is $56.56 and its 200-day simple moving average is $74.48.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during 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%. Equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.81%. Edison International’s dividend payout ratio (DPR) is 100.30%.

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.