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

ProVise Management Group LLC lessened its holdings in Edison International (NYSE:EIX) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Edison International in the fourth quarter worth about $25,000. Groupama Asset Managment raised its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Larson Financial Group LLC raised 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 purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Edison International in the third quarter worth about $32,000. Finally, Sierra Ocean LLC acquired a new position in Edison International in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $58.74 on Wednesday. The firm’s 50 day moving average price is $55.80 and its two-hundred day moving average price is $74.01. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock has a market cap of $22.61 billion, a PE ratio of 17.22, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.92 billion. As a group, analysts forecast that Edison International will post 4.95 EPS for the current 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. This represents a $3.31 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Analysts Set New Price Targets

Several analysts have recently weighed in on EIX shares. Wells Fargo & Company dropped their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Barclays dropped their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. 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 report on Wednesday, January 15th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.54.

About Edison International

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.