Meriwether Wealth & Planning LLC Acquires Shares of 2,999 Edison International (NYSE:EIX)

Meriwether Wealth & Planning LLC purchased a new stake in Edison International (NYSE:EIX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,999 shares of the utilities provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also modified their holdings of EIX. Crews Bank & Trust bought a new position in Edison International in the 4th quarter valued at approximately $25,000. Groupama Asset Managment grew its position in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC grew its position in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in Edison International in the 3rd quarter valued at $32,000. Finally, Sierra Ocean LLC bought a new position in Edison International during the 4th quarter valued at $33,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays reduced their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Mizuho reduced their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $76.54.

Edison International Price Performance

NYSE:EIX opened at $56.46 on Monday. The stock has a 50 day moving average price of $58.91 and a 200 day moving average price of $75.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $21.74 billion, a PE ratio of 16.56, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 100.30%.

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.