Edison International (NYSE:EIX) Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. raised its stake in Edison International (NYSE:EIX) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,149 shares of the utilities provider’s stock after purchasing an additional 20,866 shares during the quarter. Flputnam Investment Management Co.’s holdings in Edison International were worth $8,954,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in EIX. QRG Capital Management Inc. raised its position in shares of Edison International by 18.5% in the 4th quarter. QRG Capital Management Inc. now owns 21,559 shares of the utilities provider’s stock worth $1,721,000 after buying an additional 3,363 shares during the period. Versor Investments LP increased its stake in Edison International by 177.5% during the fourth quarter. Versor Investments LP now owns 39,965 shares of the utilities provider’s stock worth $3,191,000 after acquiring an additional 25,565 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Edison International in the 4th quarter worth about $6,859,000. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Edison International by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 149,500 shares of the utilities provider’s stock valued at $11,936,000 after purchasing an additional 2,500 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in shares of Edison International by 1.0% during the 4th quarter. New York Life Investment Management LLC now owns 51,789 shares of the utilities provider’s stock worth $4,135,000 after purchasing an additional 529 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on EIX. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Morgan Stanley cut their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus price target of $78.75.

Edison International Trading Up 6.0 %

NYSE:EIX opened at $54.45 on Friday. The stock has a market cap of $21.08 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The business’s 50-day simple moving average is $61.38 and its 200 day simple moving average is $76.50.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) 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 analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed 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 is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.08%. Edison International’s dividend payout ratio (DPR) is 97.07%.

About Edison International

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.