Leisure Capital Management Invests $222,000 in Edison International (NYSE:EIX)

Leisure Capital Management bought a new position in Edison International (NYSE:EIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,103 shares of the utilities provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC boosted its holdings in shares of Edison International by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock worth $842,826,000 after acquiring an additional 197,259 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Edison International by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after buying an additional 317,297 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Edison International by 8.9% during the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after buying an additional 558,351 shares in the last quarter. Legal & General Group Plc lifted its holdings in Edison International by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock worth $353,840,000 after buying an additional 108,138 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Edison International by 3.9% during the 3rd quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock worth $280,294,000 after buying an additional 165,734 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the topic of several research reports. Barclays upped their price objective on Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. Mizuho lowered their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group started coverage on shares of Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.60.

Edison International Stock Down 1.4 %

Shares of Edison International stock traded down $0.99 during trading hours on Friday, reaching $70.14. 2,624,971 shares of the company’s stock were exchanged, compared to its average volume of 1,607,010. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92. The stock has a market cap of $26.98 billion, a P/E ratio of 22.49 and a beta of 0.96. The company has a 50 day moving average of $68.98 and a two-hundred day moving average of $67.70. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the business posted $1.14 EPS. On average, sell-side analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.45%. Edison International’s dividend payout ratio is currently 100.00%.

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.