KCM Investment Advisors LLC grew its position in shares of Edison International (NYSE:EIX) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,769 shares of the utilities provider’s stock after purchasing an additional 888 shares during the period. KCM Investment Advisors LLC’s holdings in Edison International were worth $9,786,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of EIX. Orion Portfolio Solutions LLC bought a new position in shares of Edison International during the 4th quarter valued at about $39,000. Coastal Investment Advisors Inc. lifted its position in shares of Edison International by 30.5% during the fourth quarter. Coastal Investment Advisors Inc. now owns 625 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 146 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in shares of Edison International during the fourth quarter worth $53,000. Ancora Advisors LLC acquired a new position in shares of Edison International during the fourth quarter worth $53,000. Finally, Sandy Spring Bank lifted its position in shares of Edison International by 34.4% during the fourth quarter. Sandy Spring Bank now owns 742 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 190 shares in the last quarter. 90.04% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on EIX shares. Citigroup lifted their price target on shares of Edison International from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Cfra increased their price objective on Edison International from $62.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, February 28th. UBS Group increased their price objective on Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. ValuEngine upgraded Edison International from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Barclays restated a “hold” rating and issued a $68.00 price objective on shares of Edison International in a report on Friday, March 13th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $79.58.
Edison International stock traded up $4.25 during trading hours on Thursday, reaching $58.07. 128,349 shares of the company were exchanged, compared to its average volume of 3,840,260. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.57 and a beta of 0.32. The company has a current ratio of 0.64, a quick ratio of 0.58 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $67.00 and a 200 day moving average of $71.06. Edison International has a 12 month low of $43.63 and a 12 month high of $78.93.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.01). Edison International had a net margin of 10.89% and a return on equity of 11.73%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts forecast that Edison International will post 4.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.6375 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $2.55 annualized dividend and a dividend yield of 4.39%. Edison International’s payout ratio is 54.26%.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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