RiverFront Investment Group LLC Acquires 1,722 Shares of Edison International (NYSE:EIX)

RiverFront Investment Group LLC increased its holdings in Edison International (NYSE:EIX) by 26.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,200 shares of the utilities provider’s stock after buying an additional 1,722 shares during the period. RiverFront Investment Group LLC’s holdings in Edison International were worth $655,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Crews Bank & Trust bought a new position in shares of Edison International in the fourth quarter worth $25,000. Groupama Asset Managment boosted 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 purchasing an additional 237 shares during the period. Larson Financial Group LLC grew its holdings in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Edison International during the fourth quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after buying an additional 200 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the subject of several recent analyst reports. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Mizuho decreased their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH upgraded 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Price Performance

Shares of Edison International stock opened at $58.20 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $49.06 and a one year high of $88.77. The business’s 50 day simple moving average is $55.00 and its two-hundred day simple moving average is $72.50. The stock has a market capitalization of $22.41 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.