Allstate Corp Makes New $938,000 Investment in Edison International (NYSE:EIX)

Allstate Corp acquired a new position in shares of Edison International (NYSE:EIX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,743 shares of the utilities provider's stock, valued at approximately $938,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Crews Bank & Trust acquired a new stake in shares of Edison International in the fourth quarter worth approximately $25,000. Groupama Asset Managment lifted its holdings in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 237 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Edison International during the 4th quarter worth $33,000. 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 buying an additional 200 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock valued at $34,000 after buying an additional 311 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EIX shares. LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. restated a "neutral" rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Mizuho reduced their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Edison International currently has an average rating of "Moderate Buy" and a consensus price target of $76.82.

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Edison International Trading Down 2.7 %

Shares of Edison International stock traded down $1.63 on Thursday, reaching $58.30. The company had a trading volume of 3,828,851 shares, compared to its average volume of 2,870,485. 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 firm has a market cap of $22.44 billion, a PE ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. The firm's 50 day moving average price is $54.89 and its two-hundred day moving average price is $71.97. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly 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 firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio (DPR) is currently 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.