RiverFront Investment Group LLC Increases Stake in Edison International (NYSE:EIX)

RiverFront Investment Group LLC raised its position in shares of Edison International (NYSE:EIX) by 26.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,200 shares of the utilities provider’s stock after purchasing an additional 1,722 shares during the quarter. RiverFront Investment Group LLC’s holdings in Edison International were worth $655,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. DnB Asset Management AS increased its position in shares of Edison International by 10.1% during the fourth quarter. DnB Asset Management AS now owns 99,054 shares of the utilities provider’s stock valued at $7,908,000 after acquiring an additional 9,116 shares in the last quarter. Slagle Financial LLC bought a new stake in shares of Edison International in the 4th quarter worth $3,478,000. Orion Portfolio Solutions LLC increased its holdings in shares of Edison International by 6.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,087 shares of the utilities provider’s stock worth $1,284,000 after purchasing an additional 966 shares in the last quarter. denkapparat Operations GmbH purchased a new position in shares of Edison International in the fourth quarter worth $452,000. Finally, Premier Fund Managers Ltd raised its stake in shares of Edison International by 15.8% in the fourth quarter. Premier Fund Managers Ltd now owns 22,000 shares of the utilities provider’s stock worth $1,752,000 after purchasing an additional 3,000 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

NYSE EIX opened at $58.20 on Friday. The business’s fifty day moving average is $55.00 and its 200 day moving average is $72.50. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market capitalization of $22.41 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during 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%. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

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. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.69%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EIX. 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 report on Tuesday, March 4th. Morgan Stanley lifted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Barclays lowered their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.82.

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.