Mufg Securities Americas Inc. Takes $456,000 Position in Edison International (NYSE:EIX)

Mufg Securities Americas Inc. acquired a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,716 shares of the utilities provider’s stock, valued at approximately $456,000.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of Edison International during the fourth quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in shares of Edison International during the 4th quarter valued at $33,000. Raleigh Capital Management Inc. raised its position in Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 311 shares during the period. Bellwether Advisors LLC bought a new stake in Edison International in the fourth quarter worth $34,000. Finally, OFI Invest Asset Management purchased a new stake in Edison International during the fourth quarter valued at about $38,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 2.2%

Shares of EIX opened at $57.60 on Friday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm’s 50-day moving average price is $56.76 and its 200-day moving average price is $65.48. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the firm posted $1.13 EPS. The business’s revenue was down 6.5% on a year-over-year basis. Sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were paid a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.75%. Edison International’s payout ratio is 46.95%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EIX. 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. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.96.

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.