Edison International (NYSE:EIX) Shares Acquired by Ethic Inc.

Ethic Inc. boosted its holdings in Edison International (NYSE:EIX) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,605 shares of the utilities provider’s stock after acquiring an additional 14,338 shares during the period. Ethic Inc.’s holdings in Edison International were worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Edison International in the 4th quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board raised its holdings in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after acquiring an additional 2,643,571 shares during the last quarter. Northern Trust Corp lifted its position in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Edison International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after acquiring an additional 1,673,204 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on EIX shares. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. 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. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.96.

Edison International Trading Up 0.1 %

NYSE EIX opened at $56.20 on Friday. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $49.06 and a one year high of $88.77. The company’s 50 day moving average price is $56.70 and its 200 day moving average price is $66.26.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Monday, April 7th. Edison International’s payout ratio is 46.95%.

Edison International 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.