Edison International (NYSE:EIX) Stock Position Lifted by Flputnam Investment Management Co.

Flputnam Investment Management Co. grew its position in Edison International (NYSE:EIX) by 22.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 112,149 shares of the utilities provider’s stock after buying an additional 20,866 shares during the period. Flputnam Investment Management Co.’s holdings in Edison International were worth $8,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Edison International in the fourth quarter worth $25,000. Groupama Asset Managment lifted its position in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Larson Financial Group LLC boosted its holdings 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 valued at $31,000 after buying an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Edison International during the 3rd quarter valued at about $32,000. Finally, Sierra Ocean LLC acquired a new stake in Edison International during the fourth quarter worth about $33,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE EIX opened at $54.45 on Friday. The stock has a market cap of $21.08 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.07 and a beta of 0.90. The firm’s 50-day simple moving average is $61.38 and its 200 day simple moving average is $76.50. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities analysts expect 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 6.08%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 97.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EIX shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Morgan Stanley reduced their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Barclays cut their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.75.

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.