Ameriprise Financial Inc. Raises Stake in Edison International (NYSE:EIX)

Ameriprise Financial Inc. boosted its stake in Edison International (NYSE:EIX - Free Report) by 149.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,793,795 shares of the utilities provider's stock after acquiring an additional 1,673,204 shares during the period. Ameriprise Financial Inc. owned 0.72% of Edison International worth $223,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EIX. Vanguard Group Inc. grew its stake in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Geode Capital Management LLC increased its stake in Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock valued at $795,123,000 after buying an additional 362,999 shares during the period. Northern Trust Corp raised its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Edison International by 1.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock worth $409,865,000 after acquiring an additional 50,451 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after acquiring an additional 1,331,941 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target 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 decreased their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Finally, Mizuho lowered their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.96.

Edison International Price Performance

Shares of NYSE:EIX traded up $0.07 on Friday, hitting $56.20. The company had a trading volume of 2,318,656 shares, compared to its average volume of 3,011,481. 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 company has a market cap of $21.62 billion, a PE ratio of 16.48, a PEG ratio of 1.07 and a beta of 0.77. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The business has a 50 day moving average of $56.67 and a 200 day moving average of $66.47.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share 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 during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The company's revenue was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

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