Courier Capital LLC Makes New $214,000 Investment in Edison International (NYSE:EIX)

Courier Capital LLC acquired a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,000 shares of the utilities provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EIX. Norges Bank purchased a new position in Edison International during the fourth quarter worth $222,895,000. Deutsche Bank AG lifted its position in shares of Edison International by 266.3% during the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after purchasing an additional 3,132,877 shares during the last quarter. Invesco Ltd. lifted its position in shares of Edison International by 36.8% during the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after purchasing an additional 1,541,989 shares during the last quarter. Morgan Stanley lifted its position in shares of Edison International by 33.5% during the fourth quarter. Morgan Stanley now owns 5,362,970 shares of the utilities provider’s stock worth $341,192,000 after purchasing an additional 1,345,379 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Edison International by 2.6% during the second quarter. BlackRock Inc. now owns 37,085,024 shares of the utilities provider’s stock worth $2,575,555,000 after purchasing an additional 946,430 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on EIX shares. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Barclays lifted their price objective on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Finally, Royal Bank of Canada decreased their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.50.

Edison International Stock Performance

Shares of Edison International stock opened at $69.39 on Thursday. Edison International has a one year low of $58.82 and a one year high of $74.92. The company has a market capitalization of $26.69 billion, a PE ratio of 22.24, a P/E/G ratio of 2.30 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The company has a 50-day simple moving average of $67.53 and a two-hundred day simple moving average of $67.19.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts expect that Edison International will post 4.98 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.50%. Edison International’s dividend payout ratio is currently 100.00%.

Edison International 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.