KLP Kapitalforvaltning AS Takes $23.50 Million Position in Edison International (NYSE:EIX)

KLP Kapitalforvaltning AS purchased a new position in shares of Edison International (NYSE:EIX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 294,377 shares of the utilities provider's stock, valued at approximately $23,503,000. KLP Kapitalforvaltning AS owned about 0.08% of Edison International at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Jamison Private Wealth Management Inc. raised its holdings in shares of Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock worth $550,000 after purchasing an additional 174 shares during the last quarter. Bleakley Financial Group LLC grew its position in Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock worth $503,000 after purchasing an additional 176 shares during the period. Old Port Advisors raised its stake in shares of Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider's stock valued at $1,540,000 after buying an additional 180 shares during the last quarter. Larson Financial Group LLC lifted 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 buying an additional 195 shares during the period. Finally, Centre Asset Management LLC boosted its stake in shares of Edison International by 8.1% in the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock worth $212,000 after buying an additional 199 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley lifted their target price on shares of Edison International from $48.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International Price Performance

NYSE EIX traded down $0.45 during mid-day trading on Thursday, hitting $57.33. The stock had a trading volume of 3,746,020 shares, compared to its average volume of 2,683,890. The firm's 50 day moving average is $55.17 and its 200 day moving average is $72.89. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 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%. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.77%. Edison International's dividend payout ratio (DPR) is presently 100.30%.

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.