Corient Private Wealth LLC Has $4.49 Million Stock Position in Edison International (NYSE:EIX)

Corient Private Wealth LLC grew its position in Edison International (NYSE:EIX) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,285 shares of the utilities provider’s stock after buying an additional 351 shares during the period. Corient Private Wealth LLC’s holdings in Edison International were worth $4,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Edison International by 35.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,321 shares of the utilities provider’s stock valued at $984,000 after buying an additional 3,233 shares during the period. Natixis Advisors LLC increased its stake in shares of Edison International by 7.2% in the 4th quarter. Natixis Advisors LLC now owns 161,923 shares of the utilities provider’s stock valued at $12,928,000 after buying an additional 10,912 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Edison International by 10.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,244 shares of the utilities provider’s stock worth $259,000 after purchasing an additional 301 shares during the last quarter. Montis Financial LLC bought a new position in shares of Edison International in the 4th quarter worth $258,000. Finally, Picton Mahoney Asset Management boosted its position in shares of Edison International by 46.4% in the 4th quarter. Picton Mahoney Asset Management now owns 6,387 shares of the utilities provider’s stock worth $509,000 after purchasing an additional 2,023 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of Edison International stock opened at $58.32 on Friday. 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 stock’s 50-day moving average is $55.24 and its 200-day moving average is $73.60. The firm has a market cap of $22.45 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth 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.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is currently 100.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday. Mizuho reduced their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price target 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. The Goldman Sachs Group reduced their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average price target 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.