Charles Schwab Investment Management Inc. Increases Stock Holdings in Edison International (NYSE:EIX)

Charles Schwab Investment Management Inc. lifted its position in Edison International (NYSE:EIX - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,562,128 shares of the utilities provider's stock after purchasing an additional 145,358 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.67% of Edison International worth $150,961,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EIX. Advisory Services Network LLC lifted its position in Edison International by 14.8% in the fourth quarter. Advisory Services Network LLC now owns 3,396 shares of the utilities provider's stock valued at $271,000 after buying an additional 438 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Edison International in the fourth quarter valued at about $39,344,000. Bessemer Group Inc. lifted its position in Edison International by 8.3% in the fourth quarter. Bessemer Group Inc. now owns 12,473 shares of the utilities provider's stock valued at $997,000 after buying an additional 957 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Edison International by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 167,306 shares of the utilities provider's stock valued at $13,358,000 after buying an additional 1,050 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in Edison International by 54.2% in the fourth quarter. Sterling Capital Management LLC now owns 22,975 shares of the utilities provider's stock valued at $1,834,000 after buying an additional 8,079 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Barclays upped their target price on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Morgan Stanley reduced their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.19.

Edison International Stock Down 0.3%

Shares of EIX stock traded down $0.18 during trading hours on Thursday, reaching $56.10. 1,308,052 shares of the stock were exchanged, compared to its average volume of 4,468,404. The business's fifty day moving average is $51.82 and its two-hundred day moving average is $54.24. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The firm has a market capitalization of $21.59 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.32 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is currently 48.60%.

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.