Premier Fund Managers Ltd Boosts Stock Holdings in Edison International (NYSE:EIX)

Premier Fund Managers Ltd lifted its holdings in shares of Edison International (NYSE:EIX) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,000 shares of the utilities provider’s stock after acquiring an additional 3,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in Edison International were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Edison International in the fourth quarter worth $323,443,000. Vanguard Group Inc. lifted its holdings in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. Raymond James Financial Inc. bought a new position in Edison International in the 4th quarter worth about $39,344,000. AustralianSuper Pty Ltd purchased a new position in Edison International during the 4th quarter valued at about $31,877,000. Finally, Victory Capital Management Inc. increased its position in shares of Edison International by 74.6% during the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after buying an additional 387,215 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Trading Down 0.8 %

EIX stock opened at $57.33 on Friday. The company has a market capitalization of $22.07 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $49.06 and a one year high of $88.77. The company’s 50 day moving average price is $55.09 and its two-hundred day moving average price is $72.78.

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

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.77%. Edison International’s payout ratio is 100.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EIX. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company reduced 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. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average 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.