Moors & Cabot Inc. Sells 372 Shares of Edison International (NYSE:EIX)

Moors & Cabot Inc. trimmed its holdings in shares of Edison International (NYSE:EIX) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,981 shares of the utilities provider’s stock after selling 372 shares during the period. Moors & Cabot Inc.’s holdings in Edison International were worth $398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independent Advisor Alliance boosted its holdings in Edison International by 32.5% during the 4th quarter. Independent Advisor Alliance now owns 6,604 shares of the utilities provider’s stock valued at $527,000 after acquiring an additional 1,619 shares during the period. Meriwether Wealth & Planning LLC purchased a new stake in shares of Edison International during the fourth quarter valued at approximately $239,000. Johnson Investment Counsel Inc. boosted its stake in shares of Edison International by 20.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 4,072 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 688 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Edison International by 4.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 59,010 shares of the utilities provider’s stock worth $4,711,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Edison International by 3.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 458,916 shares of the utilities provider’s stock worth $36,640,000 after buying an additional 15,714 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 2.1 %

Shares of Edison International stock opened at $57.01 on Friday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. The company has a 50-day moving average of $56.56 and a 200 day moving average of $74.48. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.81%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 100.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley reduced their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. 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 report on Wednesday, January 15th. Finally, The Goldman Sachs Group reduced their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average price target 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.