Brevan Howard Capital Management LP Raises Holdings in Edison International (NYSE:EIX)

Brevan Howard Capital Management LP raised its position in Edison International (NYSE:EIX - Free Report) by 462.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 88,012 shares of the utilities provider's stock after purchasing an additional 72,355 shares during the period. Brevan Howard Capital Management LP's holdings in Edison International were worth $7,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its stake in shares of Edison International by 17.1% in the fourth quarter. Captrust Financial Advisors now owns 20,812 shares of the utilities provider's stock worth $1,662,000 after buying an additional 3,040 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Edison International in the 4th quarter worth approximately $220,000. Baird Financial Group Inc. boosted its holdings in shares of Edison International by 111.2% during the 4th quarter. Baird Financial Group Inc. now owns 4,114 shares of the utilities provider's stock worth $328,000 after purchasing an additional 2,166 shares during the last quarter. Bearing Point Capital LLC purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $463,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Edison International by 27.4% in the fourth quarter. BNP Paribas Financial Markets now owns 992,661 shares of the utilities provider's stock valued at $79,254,000 after purchasing an additional 213,755 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Up 0.1 %

NYSE EIX traded up $0.07 on Friday, hitting $56.20. 2,318,656 shares of the stock were exchanged, 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 50-day moving average price of $56.67 and a 200-day moving average price of $66.47. The company has a quick ratio of 0.81, a current ratio of 0.88 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 (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. Sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders 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 5.89%. Edison International's dividend payout ratio is currently 46.95%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Barclays raised their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. restated a "neutral" rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Finally, Morgan Stanley restated an "overweight" rating on shares of Edison International in a report on Wednesday, April 23rd. 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, Edison International currently has an average rating of "Moderate Buy" and a consensus price target of $76.96.

Edison International Company 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.