Nisa Investment Advisors LLC Decreases Stock Position in Edison International (NYSE:EIX)

Nisa Investment Advisors LLC cut its stake in shares of Edison International (NYSE:EIX - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,276 shares of the utilities provider's stock after selling 5,130 shares during the quarter. Nisa Investment Advisors LLC's holdings in Edison International were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its position in Edison International by 98.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after purchasing an additional 5,454 shares during the period. Tounjian Advisory Partners LLC purchased a new position in shares of Edison International in the first quarter worth about $1,151,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after acquiring an additional 71,159 shares during the period. GAMMA Investing LLC grew its position in Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after acquiring an additional 141,769 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Edison International by 17.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock worth $6,324,000 after purchasing an additional 15,718 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Trading Up 0.8%

Shares of NYSE:EIX traded up $0.40 during trading on Thursday, hitting $51.34. The company had a trading volume of 3,602,223 shares, compared to its average volume of 3,394,506. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 7.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.75. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The company has a fifty day simple moving average of $53.11 and a two-hundred day simple moving average of $56.26. Edison International has a one year low of $47.73 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.