UniSuper Management Pty Ltd Boosts Holdings in Edison International (NYSE:EIX)

UniSuper Management Pty Ltd raised its position in Edison International (NYSE:EIX) by 26.8% in the 4th quarter, Holdings Channel reports. The firm owned 37,242 shares of the utilities provider’s stock after buying an additional 7,866 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Edison International were worth $2,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in Edison International during the fourth quarter valued at $25,000. Groupama Asset Managment increased its stake in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Edison International during the 4th quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. grew its holdings in shares of Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 1.6 %

Shares of EIX opened at $58.20 on Friday. The firm has a fifty day simple moving average of $55.00 and a two-hundred day simple moving average of $72.50. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market capitalization of $22.41 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 0.87. 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 posted its earnings results 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 5.69%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EIX shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Barclays cut their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley raised their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

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.