DnB Asset Management AS Has $7.91 Million Stock Position in Edison International (NYSE:EIX)

DnB Asset Management AS raised its holdings in shares of Edison International (NYSE:EIX) by 10.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 99,054 shares of the utilities provider’s stock after buying an additional 9,116 shares during the quarter. DnB Asset Management AS’s holdings in Edison International were worth $7,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jamison Private Wealth Management Inc. raised its stake in Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 174 shares during the last quarter. Bleakley Financial Group LLC raised its position 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 lifted its stake in shares of Edison International by 0.9% in 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 period. Larson Financial Group LLC grew its position in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Finally, Centre Asset Management LLC increased its stake in 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 acquiring an additional 199 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 1.6 %

Shares of NYSE EIX opened at $58.20 on Friday. 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 company has a market cap of $22.41 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The firm’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $72.50.

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 the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of research reports. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Mizuho decreased their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.82.

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.