OneAscent Financial Services LLC Buys New Position in Edison International (NYSE:EIX)

OneAscent Financial Services LLC purchased a new position in shares of Edison International (NYSE:EIX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,560 shares of the utilities provider’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Jamison Private Wealth Management Inc. increased its stake in Edison International by 2.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 174 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 176 shares during the last quarter. Old Port Advisors increased its stake in shares of Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock valued at $1,540,000 after acquiring an additional 180 shares during the last quarter. Centre Asset Management LLC lifted its holdings in shares of Edison International by 8.1% during the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 199 shares during the period. Finally, ST Germain D J Co. Inc. boosted its position in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Edison International stock opened at $59.92 on Thursday. Edison International has a 12-month low of $49.06 and a 12-month 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. The company has a market capitalization of $23.07 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The firm’s fifty day moving average price is $54.89 and its 200 day moving average price is $71.97.

Edison International (NYSE:EIX) last released its quarterly 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. 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 5.52%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analysts Set New Price Targets

EIX has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. 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 report on Friday, February 28th. Finally, Morgan Stanley increased their target price on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

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.