Point72 Asset Management L.P. purchased a new stake in shares of Edison International (NYSE:EIX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,364 shares of the utilities provider’s stock, valued at approximately $14,506,000.
Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Edison International by 4.3% during the 4th quarter. State Street Corp now owns 27,110,949 shares of the utilities provider’s stock worth $2,061,617,000 after buying an additional 1,108,106 shares in the last quarter. FMR LLC lifted its stake in shares of Edison International by 40.4% during the fourth quarter. FMR LLC now owns 10,590,491 shares of the utilities provider’s stock valued at $798,629,000 after acquiring an additional 3,048,550 shares during the period. Boston Partners boosted its holdings in Edison International by 12.5% in the fourth quarter. Boston Partners now owns 7,900,646 shares of the utilities provider’s stock valued at $595,721,000 after acquiring an additional 879,793 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Edison International by 6.0% in the fourth quarter. Pzena Investment Management LLC now owns 6,031,294 shares of the utilities provider’s stock valued at $454,820,000 after acquiring an additional 342,174 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in Edison International by 19.1% in the fourth quarter. Pictet Asset Management Ltd. now owns 4,440,783 shares of the utilities provider’s stock valued at $334,880,000 after acquiring an additional 713,253 shares during the last quarter. 90.04% of the stock is owned by institutional investors and hedge funds.
EIX has been the topic of a number of research reports. Wells Fargo & Co restated a “hold” rating on shares of Edison International in a research report on Monday, March 2nd. Barclays reduced their target price on shares of Edison International from $68.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday. UBS Group lifted their price target on shares of Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. SunTrust Banks boosted their price target on shares of Edison International from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley cut their price objective on shares of Edison International from $89.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $78.25.
NYSE:EIX traded up $3.91 during mid-day trading on Thursday, hitting $57.73. The company had a trading volume of 3,211,130 shares, compared to its average volume of 2,434,692. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.58 and a current ratio of 0.64. Edison International has a fifty-two week low of $43.63 and a fifty-two week high of $78.93. The firm has a market cap of $18.27 billion, a P/E ratio of 15.19, a P/E/G ratio of 3.57 and a beta of 0.32. The business’s fifty day moving average is $67.00 and its two-hundred day moving average is $71.06.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, February 27th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.01). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.40 billion. Edison International had a return on equity of 11.73% and a net margin of 10.89%. Edison International’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Equities analysts forecast that Edison International will post 4.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.6375 per share. This represents a $2.55 annualized dividend and a yield of 4.42%. The ex-dividend date is Monday, March 30th. Edison International’s payout ratio is 54.26%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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