Forsta AP Fonden Has $13.41 Million Stock Position in Edison International (NYSE:EIX)

Forsta AP Fonden raised its stake in shares of Edison International (NYSE:EIX - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,000 shares of the utilities provider's stock after buying an additional 4,700 shares during the period. Forsta AP Fonden's holdings in Edison International were worth $13,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter worth $26,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter valued at approximately $27,000. Larson Financial Group LLC raised its stake 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 in the last quarter. Prospera Private Wealth LLC bought a new position in Edison International during the third quarter worth about $32,000. Finally, Concord Wealth Partners boosted its stake in Edison International by 277.0% in the 3rd quarter. Concord Wealth Partners now owns 377 shares of the utilities provider's stock valued at $33,000 after buying an additional 277 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EIX shares. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. UBS Group cut their price target on Edison International from $87.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Finally, Barclays cut their target price on shares of Edison International from $76.00 to $67.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.88.

Edison International Stock Down 1.5 %

NYSE EIX traded down $0.85 during trading on Thursday, hitting $54.96. The stock had a trading volume of 1,785,598 shares, compared to its average volume of 6,780,934. Edison International has a 12 month low of $54.86 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 company's 50-day moving average price is $75.46 and its two-hundred day moving average price is $80.56. The company has a market capitalization of $21.28 billion, a PE ratio of 16.12, a P/E/G ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This is a positive change from Edison International's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.02%. Edison International's payout ratio is 97.07%.

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.