Bearing Point Capital LLC Buys New Position in Edison International (NYSE:EIX)

Bearing Point Capital LLC bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,800 shares of the utilities provider's stock, valued at approximately $463,000.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Edison International by 27.4% during the fourth quarter. BNP Paribas Financial Markets now owns 992,661 shares of the utilities provider's stock worth $79,254,000 after purchasing an additional 213,755 shares during the period. Algert Global LLC acquired a new stake in shares of Edison International during the 4th quarter worth approximately $292,000. Ameriprise Financial Inc. grew its stake in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after buying an additional 1,673,204 shares during the last quarter. Aristeia Capital L.L.C. acquired a new stake in Edison International in the fourth quarter worth $523,000. Finally, Gallagher Fiduciary Advisors LLC lifted its stake in Edison International by 12.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 9,606 shares of the utilities provider's stock valued at $767,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho dropped their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Edison International presently has an average rating of "Moderate Buy" and a consensus target price of $76.96.

Edison International Stock Up 0.1 %

Edison International stock traded up $0.07 during trading hours on Friday, hitting $56.20. The company had a trading volume of 2,318,656 shares, compared to its average volume of 3,008,275. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $21.62 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The firm's fifty day moving average is $56.67 and its 200-day moving average is $66.47.

Edison International (NYSE:EIX - Get Free Report) last issued 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 net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The company's revenue for the quarter was down 6.5% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

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