Edison International (NYSE:EIX) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its position in Edison International (NYSE:EIX) by 4.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 283,193 shares of the utilities provider’s stock after acquiring an additional 11,828 shares during the period. AMF Tjanstepension AB’s holdings in Edison International were worth $22,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in shares of Edison International in the 4th quarter worth approximately $25,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $32,000. Darwin Wealth Management LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Edison International in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 2.5 %

Shares of Edison International stock opened at $56.46 on Friday. The business’s fifty day moving average price is $58.91 and its two-hundred day moving average price is $75.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $21.74 billion, a P/E ratio of 16.56, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Analysts Set New Price Targets

Several brokerages have recently commented on EIX. Barclays decreased their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

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.