Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Edison International (NYSE:EIX - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 633,716 shares of the utilities provider's stock after purchasing an additional 83,568 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Edison International worth $50,571,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Edison International during the fourth quarter worth about $25,000. Groupama Asset Managment grew its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after acquiring an additional 237 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock worth $31,000 after acquiring an additional 195 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $33,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider's stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 88.95% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on EIX. Morgan Stanley boosted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Finally, Barclays cut their price objective on Edison International from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Edison International currently has an average rating of "Moderate Buy" and an average price target of $76.82.
Check Out Our Latest Research Report on Edison International
Edison International Stock Performance
EIX stock traded up $1.09 during midday trading on Wednesday, reaching $59.84. 962,821 shares of the company were exchanged, compared to its average volume of 5,636,341. The firm has a market capitalization of $23.04 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The business has a 50-day moving average price of $54.86 and a two-hundred day moving average price of $72.05. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.
Edison International (NYSE:EIX - Get Free Report) last announced 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 company 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 EPS for the current year.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.53%. Edison International's dividend payout ratio (DPR) is currently 100.30%.
About Edison International
(
Free Report)
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.
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