Vanguard Group Inc. Acquires 1,559,501 Shares of Edison International (NYSE:EIX)

Vanguard Group Inc. boosted its stake in shares of Edison International (NYSE:EIX - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,589,777 shares of the utilities provider's stock after buying an additional 1,559,501 shares during the quarter. Vanguard Group Inc. owned approximately 12.55% of Edison International worth $3,879,408,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EIX. Jamison Private Wealth Management Inc. grew its position in shares of Edison International by 2.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider's stock valued at $550,000 after acquiring an additional 174 shares during the period. Bleakley Financial Group LLC grew its holdings in Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock valued at $503,000 after purchasing an additional 176 shares during the period. Old Port Advisors increased its position in Edison International by 0.9% in the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider's stock worth $1,540,000 after buying an additional 180 shares during the last quarter. Larson Financial Group LLC increased its position in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock worth $31,000 after buying an additional 195 shares during the last quarter. Finally, Centre Asset Management LLC raised its stake in shares of Edison International by 8.1% in the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider's stock valued at $212,000 after buying an additional 199 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

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Edison International Price Performance

Shares of NYSE EIX traded up $0.91 during midday trading on Friday, hitting $58.20. 4,991,929 shares of the company's stock were exchanged, compared to its average volume of 2,837,039. 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 business's fifty day moving average price is $55.00 and its two-hundred day moving average price is $72.59. The company has a market cap of $22.41 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 12-month low of $49.06 and a 12-month 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 company had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared 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 is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.69%. Edison International's payout ratio is 100.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EIX shares. Mizuho decreased their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Barclays lowered their price target on shares of Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group reduced their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

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.