Forsta AP Fonden Raises Position in Edison International (NYSE:EIX)

Forsta AP Fonden raised its position in Edison International (NYSE:EIX) by 2.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 168,000 shares of the utilities provider’s stock after purchasing an additional 4,700 shares during the quarter. Forsta AP Fonden’s holdings in Edison International were worth $13,413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EIX. The Manufacturers Life Insurance Company increased its position in shares of Edison International by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 230,755 shares of the utilities provider’s stock valued at $16,571,000 after buying an additional 23,135 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Edison International by 8.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after buying an additional 816 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Edison International by 9.5% during the second quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock valued at $779,000 after buying an additional 937 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Edison International by 0.5% during the second quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock valued at $7,565,000 after buying an additional 540 shares during the last quarter. Finally, RiverFront Investment Group LLC grew its holdings in shares of Edison International by 24.3% during the second quarter. RiverFront Investment Group LLC now owns 5,786 shares of the utilities provider’s stock valued at $415,000 after buying an additional 1,133 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX stock opened at $55.79 on Thursday. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $76.07 and a 200 day moving average price of $80.73. The stock has a market cap of $21.60 billion, a PE ratio of 16.36, a P/E/G ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.93%. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EIX shares. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.