Montis Financial LLC Invests $258,000 in Edison International (NYSE:EIX)

Montis Financial LLC purchased a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,230 shares of the utilities provider’s stock, valued at approximately $258,000.

Several other hedge funds have also added to or reduced their stakes in EIX. Picton Mahoney Asset Management increased its position in Edison International by 46.4% during the 4th quarter. Picton Mahoney Asset Management now owns 6,387 shares of the utilities provider’s stock worth $509,000 after buying an additional 2,023 shares during the period. Intact Investment Management Inc. increased its position in Edison International by 9,435.7% during the fourth quarter. Intact Investment Management Inc. now owns 80,100 shares of the utilities provider’s stock worth $6,395,000 after acquiring an additional 79,260 shares during the period. LBP AM SA raised its stake in Edison International by 4.2% in the 4th quarter. LBP AM SA now owns 62,019 shares of the utilities provider’s stock worth $4,952,000 after purchasing an additional 2,473 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Edison International by 0.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 107,053 shares of the utilities provider’s stock valued at $8,547,000 after purchasing an additional 536 shares during the period. Finally, PGGM Investments grew its position in shares of Edison International by 62.8% during the 4th quarter. PGGM Investments now owns 25,763 shares of the utilities provider’s stock worth $2,057,000 after purchasing an additional 9,942 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Barclays cut their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company decreased their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Trading Up 2.1 %

EIX opened at $57.01 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company’s 50 day moving average price is $56.56 and its two-hundred day moving average price is $74.55. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87.

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 the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.81%. 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.