Edison International (NYSE:EIX) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Edison International (NYSE:EIX) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,916 shares of the utilities provider’s stock after acquiring an additional 15,714 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Edison International were worth $36,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. boosted its holdings in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in 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 worth $550,000 after buying an additional 174 shares in the last quarter. Bleakley Financial Group LLC grew its position in Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after buying an additional 176 shares during the last quarter. Old Port Advisors grew its position in Edison International by 0.9% in the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after buying an additional 180 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Edison International by 19.3% in the third quarter. Addison Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $105,000 after buying an additional 194 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $57.03 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The stock’s 50-day moving average is $58.46 and its two-hundred day moving average is $75.22. The firm has a market cap of $21.96 billion, a P/E ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last issued 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.80%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is currently 100.30%.

Analysts Set New Price Targets

EIX has been the topic of several research reports. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Barclays reduced their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Mizuho reduced 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. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.54.

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.