Pinebridge Investments L.P. bought a new stake in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 195,309 shares of the utilities provider's stock, valued at approximately $15,593,000. Pinebridge Investments L.P. owned about 0.05% of Edison International as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. Jamison Private Wealth Management Inc. grew its stake in shares of Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock valued at $550,000 after buying an additional 174 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock valued at $503,000 after buying an additional 176 shares during the last quarter. Old Port Advisors grew its stake in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider's stock valued at $1,540,000 after buying an additional 180 shares during the last quarter. Centre Asset Management LLC grew its stake in shares of Edison International by 8.1% during the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock valued at $212,000 after buying an additional 199 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 88.95% of the company's stock.
Edison International Stock Performance
Shares of NYSE EIX traded up $0.44 during mid-day trading on Tuesday, hitting $58.79. The stock had a trading volume of 789,756 shares, compared to its average volume of 2,944,740. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a 50 day moving average of $56.24 and a two-hundred day moving average of $67.86. 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 $22.63 billion, a PE ratio of 17.24, a PEG ratio of 1.07 and a beta of 0.74.
Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Research analysts predict 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 will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.63%. Edison International's dividend payout ratio is presently 100.30%.
Analyst Ratings Changes
Several brokerages recently issued reports on EIX. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Wednesday, April 23rd. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. restated a "neutral" rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.75.
Check Out Our Latest Stock Analysis on EIX
About Edison International
(
Free Report)
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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