Wealthfront Advisers LLC Sells 42,632 Shares of Edison International (NYSE:EIX)

Wealthfront Advisers LLC reduced its position in Edison International (NYSE:EIX - Free Report) by 69.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,397 shares of the utilities provider's stock after selling 42,632 shares during the period. Wealthfront Advisers LLC's holdings in Edison International were worth $1,084,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EIX. Oppenheimer & Co. Inc. lifted its stake in Edison International by 98.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock valued at $647,000 after acquiring an additional 5,454 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new stake in shares of Edison International during the 1st quarter valued at $1,151,000. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 purchasing an additional 71,159 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock valued at $8,554,000 after purchasing an additional 141,769 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Edison International by 17.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock valued at $6,324,000 after purchasing an additional 15,718 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of EIX stock opened at $51.14 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. The business's fifty day moving average is $52.91 and its 200 day moving average is $55.70. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.21 and a beta of 0.75.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Monday, July 7th. Edison International's dividend payout ratio is 46.95%.

Analyst Upgrades and Downgrades

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

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.

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