Edison International (NYSE:EIX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in Edison International (NYSE:EIX - Free Report) by 81.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,032 shares of the utilities provider's stock after selling 13,101 shares during the period. Cresset Asset Management LLC's holdings in Edison International were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centiva Capital LP grew its stake in Edison International by 117.3% in the 4th quarter. Centiva Capital LP now owns 7,800 shares of the utilities provider's stock valued at $623,000 after buying an additional 4,211 shares during the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Edison International by 462.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 88,012 shares of the utilities provider's stock valued at $7,027,000 after buying an additional 72,355 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Edison International by 17.1% during the fourth quarter. Captrust Financial Advisors now owns 20,812 shares of the utilities provider's stock worth $1,662,000 after purchasing an additional 3,040 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Edison International during the fourth quarter worth approximately $220,000. Finally, Baird Financial Group Inc. increased its stake in Edison International by 111.2% in the fourth quarter. Baird Financial Group Inc. now owns 4,114 shares of the utilities provider's stock valued at $328,000 after purchasing an additional 2,166 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Edison International stock traded up $0.26 during mid-day trading on Tuesday, reaching $58.26. 1,697,407 shares of the company's stock traded hands, compared to its average volume of 3,032,387. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a 50 day moving average of $56.86 and a two-hundred day moving average of $64.90. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the firm earned $1.13 EPS. The business's revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were paid a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International's dividend payout ratio is presently 46.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EIX shares. Barclays raised their target price on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Guggenheim cut shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company decreased 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. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $76.89.

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.