Voloridge Investment Management LLC Increases Stake in Edison International (NYSE:EIX)

Voloridge Investment Management LLC grew its position in shares of Edison International (NYSE:EIX - Free Report) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,476,500 shares of the utilities provider's stock after acquiring an additional 93,111 shares during the quarter. Voloridge Investment Management LLC owned about 0.38% of Edison International worth $117,884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EIX. Norges Bank bought a new position in shares of Edison International during the 4th quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board boosted its position in shares of Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after acquiring an additional 2,643,571 shares during the last quarter. Northern Trust Corp boosted its position in shares of Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after acquiring an additional 1,673,204 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Edison International by 3.3% during 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 acquiring an additional 1,559,501 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

EIX stock opened at $57.92 on Tuesday. 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 business's fifty day simple moving average is $56.86 and its two-hundred day simple moving average is $64.90. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business 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 posted $1.13 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 5.71%. Edison International's payout ratio is 46.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EIX. Wells Fargo & Company lowered their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research report on Wednesday, April 23rd. Barclays raised their price target on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Edison International currently has an average rating of "Moderate Buy" and a consensus target price of $76.89.

About Edison International

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.

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