Sterling Capital Management LLC Boosts Holdings in Edison International (NYSE:EIX)

Sterling Capital Management LLC lifted its position in Edison International (NYSE:EIX - Free Report) by 54.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,975 shares of the utilities provider's stock after purchasing an additional 8,079 shares during the quarter. Sterling Capital Management LLC's holdings in Edison International were worth $1,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Edison International in the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in Edison International in the 4th quarter valued at approximately $33,000. ST Germain D J Co. Inc. grew its stake 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 acquiring an additional 200 shares in the last quarter. Raleigh Capital Management Inc. increased its position in shares of 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 acquiring an additional 311 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Edison International by 171.5% in the fourth quarter. Versant Capital Management Inc now owns 448 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 283 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of Edison International stock traded up $1.04 during trading hours on Friday, hitting $57.37. 2,010,297 shares of the company were exchanged, compared to its average volume of 2,941,222. The business has a 50-day moving average of $55.47 and a 200-day moving average of $69.23. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate 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%. As a group, analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.77%. Edison International's payout ratio is currently 100.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EIX shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. One equities research 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.75.

Edison International Company 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.