Cetera Advisors LLC Has $527,000 Position in Edison International (EIX)
Cetera Advisors LLC increased its position in Edison International (NYSE:EIX) by 108.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,290 shares of the utilities provider’s stock after purchasing an additional 4,829 shares during the period. Cetera Advisors LLC’s holdings in Edison International were worth $527,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Enlightenment Research LLC purchased a new position in shares of Edison International in the fourth quarter worth $28,000. Essex Investment Management Co. LLC purchased a new position in shares of Edison International in the fourth quarter worth $28,000. Rehmann Capital Advisory Group increased its stake in shares of Edison International by 57.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 547 shares of the utilities provider’s stock worth $31,000 after buying an additional 199 shares during the period. Karp Capital Management Corp purchased a new position in shares of Edison International in the fourth quarter worth $32,000. Finally, Bruderman Asset Management LLC purchased a new position in shares of Edison International in the fourth quarter worth $35,000. 84.81% of the stock is currently owned by institutional investors.
EIX has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Thursday, January 24th. Citigroup lifted their price target on shares of Edison International to $64.00 and gave the company a “buy” rating in a report on Thursday, January 24th. Goldman Sachs Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $71.00 to $63.00 in a report on Friday, January 4th. Wells Fargo & Co reiterated a “buy” rating on shares of Edison International in a report on Monday, December 24th. Finally, Mizuho lifted their price target on shares of Edison International from $57.00 to $66.50 and gave the company a “buy” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $69.05.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). Edison International had a negative net margin of 2.45% and a positive return on equity of 10.47%. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, analysts predict that Edison International will post 4.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, March 28th. Edison International’s dividend payout ratio (DPR) is presently 59.04%.
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Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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