Cerity Partners LLC Increases Stake in Edison International (NYSE:EIX)

Cerity Partners LLC boosted its position in Edison International (NYSE:EIX - Free Report) by 343.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,715 shares of the utilities provider's stock after purchasing an additional 226,718 shares during the period. Cerity Partners LLC owned about 0.08% of Edison International worth $17,247,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Whittier Trust Co. lifted its position in shares of Edison International by 4.9% during the fourth quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider's stock worth $343,000 after acquiring an additional 200 shares in the last quarter. FSB Premier Wealth Management Inc. raised its position in Edison International by 5.2% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 217 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in Edison International by 0.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock valued at $4,365,000 after purchasing an additional 218 shares in the last quarter. KWB Wealth raised its position in Edison International by 1.5% during the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after purchasing an additional 218 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Edison International by 11.5% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EIX shares. JPMorgan Chase & Co. reduced their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $76.82.

Edison International Price Performance

NYSE:EIX traded up $0.40 during trading hours on Thursday, hitting $51.34. 3,603,250 shares of the stock traded hands, compared to its average volume of 3,396,418. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The stock has a 50 day moving average price of $53.02 and a 200 day moving average price of $56.06. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The company's revenue was down 6.5% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.45%. Edison International's dividend payout ratio is 46.95%.

Edison International 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.