AMF Tjanstepension AB Grows Stock Position in Edison International (NYSE:EIX)

AMF Tjanstepension AB increased its holdings in shares of Edison International (NYSE:EIX) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,193 shares of the utilities provider’s stock after buying an additional 11,828 shares during the quarter. AMF Tjanstepension AB owned about 0.07% of Edison International worth $22,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Andra AP fonden lifted its position in Edison International by 21.7% during the fourth quarter. Andra AP fonden now owns 267,600 shares of the utilities provider’s stock worth $21,365,000 after buying an additional 47,800 shares during the period. Edgestream Partners L.P. lifted its position in Edison International by 163.4% during the fourth quarter. Edgestream Partners L.P. now owns 100,410 shares of the utilities provider’s stock worth $8,017,000 after buying an additional 62,296 shares during the period. Candriam S.C.A. lifted its position in Edison International by 4.5% during the fourth quarter. Candriam S.C.A. now owns 52,483 shares of the utilities provider’s stock worth $4,190,000 after buying an additional 2,283 shares during the period. Raymond James Financial Inc. purchased a new position in Edison International during the fourth quarter worth about $39,344,000. Finally, Cullen Frost Bankers Inc. lifted its position in Edison International by 107.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 755 shares of the utilities provider’s stock worth $60,000 after buying an additional 391 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX stock opened at $56.46 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The firm has a market cap of $21.74 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The stock has a 50-day simple moving average of $58.91 and a 200-day simple moving average of $75.53.

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). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. On average, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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 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 5.86%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research reports. Barclays cut their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley cut their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. One investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.54.

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.