KLP Kapitalforvaltning AS Purchases Shares of 294,377 Edison International (NYSE:EIX)

KLP Kapitalforvaltning AS acquired a new position in shares of Edison International (NYSE:EIX) in the fourth quarter, HoldingsChannel reports. The fund acquired 294,377 shares of the utilities provider’s stock, valued at approximately $23,503,000.

Several other large investors have also made changes to their positions in the company. Jamison Private Wealth Management Inc. grew its holdings in shares of 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 worth $550,000 after purchasing an additional 174 shares during the period. Bleakley Financial Group LLC lifted its position in 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 in the last quarter. Old Port Advisors increased its position 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 worth $1,540,000 after acquiring an additional 180 shares in the last quarter. Larson Financial Group LLC raised its stake 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 acquiring an additional 195 shares during the period. Finally, Centre Asset Management LLC lifted its holdings in shares of Edison International by 8.1% during the 4th 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 in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Down 1.0 %

EIX opened at $58.32 on Friday. The stock has a market capitalization of $22.45 billion, a PE ratio of 17.10, a P/E/G ratio of 1.07 and a beta of 0.87. 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 12-month low of $49.06 and a 12-month high of $88.77. The firm’s fifty day moving average price is $55.24 and its 200 day moving average price is $73.51.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates 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 expect that Edison International will post 4.95 EPS 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. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International’s payout ratio is 100.30%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays dropped 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 note on Monday, March 3rd. Finally, Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.