First Trust Advisors LP Boosts Stock Position in Edison International (NYSE:EIX)

First Trust Advisors LP boosted its stake in shares of Edison International (NYSE:EIX - Free Report) by 84.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,230,600 shares of the utilities provider's stock after buying an additional 563,088 shares during the quarter. First Trust Advisors LP owned 0.32% of Edison International worth $98,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Crews Bank & Trust purchased a new position in shares of Edison International during the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new position in Edison International during the 4th quarter valued at about $33,000. ST Germain D J Co. Inc. grew its position in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider's stock worth $34,000 after purchasing an additional 311 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Edison International by 171.5% during the fourth quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock worth $36,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Shares of EIX stock traded down $0.25 during mid-day trading on Friday, hitting $57.95. 2,801,801 shares of the stock were exchanged, compared to its average volume of 2,951,957. Edison International has a 12-month low of $49.06 and a 12-month 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 stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.07 and a beta of 0.74. The stock's fifty day simple moving average is $55.98 and its two-hundred day simple moving average is $68.44.

Edison International (NYSE:EIX - Get Free Report) 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). The firm had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, 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 given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's payout ratio is currently 100.30%.

Analyst Ratings Changes

A number of research firms have recently weighed in on EIX. UBS Group raised 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 research report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Barclays lowered their price target on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Edison International presently has an average rating of "Moderate Buy" and a consensus price target of $76.75.

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.