Slagle Financial LLC Acquires New Shares in Edison International (NYSE:EIX)

Slagle Financial LLC purchased a new stake in shares of Edison International (NYSE:EIX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 43,561 shares of the utilities provider’s stock, valued at approximately $3,478,000. Edison International comprises 1.6% of Slagle Financial LLC’s investment portfolio, making the stock its 21st biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after acquiring an additional 1,559,501 shares during the last quarter. State Street Corp increased its stake in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares during the period. Geode Capital Management LLC raised its holdings in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Norges Bank bought a new stake in shares of Edison International in the 4th quarter valued at approximately $323,443,000. Finally, American Century Companies Inc. increased its position in Edison International by 2.1% during the fourth quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider’s stock worth $262,264,000 after buying an additional 69,074 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EIX shares. Barclays reduced their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Morgan Stanley increased their target price on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Mizuho lowered their target price on 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 analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Down 0.8 %

EIX opened at $57.33 on Friday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The stock has a market cap of $22.07 billion, a PE ratio of 16.81, a P/E/G ratio of 1.07 and a beta of 0.87. The business’s fifty day simple moving average is $55.09 and its 200 day simple moving average is $72.78. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

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

Edison International Company 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.