Elkfork Partners LLC acquired a new position in shares of Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,000 shares of the utilities provider’s stock, valued at approximately $2,656,000.
Several other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in shares of Edison International during the fourth quarter worth $126,000. HBK Investments L P increased its position in shares of Edison International by 35.9% during the fourth quarter. HBK Investments L P now owns 292,900 shares of the utilities provider’s stock worth $18,523,000 after acquiring an additional 77,300 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Edison International by 9.7% during the fourth quarter. California State Teachers Retirement System now owns 651,645 shares of the utilities provider’s stock worth $41,210,000 after acquiring an additional 57,621 shares in the last quarter. Two Sigma Advisers LP grew its position in Edison International by 10.0% in the fourth quarter. Two Sigma Advisers LP now owns 795,878 shares of the utilities provider’s stock valued at $50,331,000 after purchasing an additional 72,300 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in Edison International by 10.6% in the fourth quarter. Guggenheim Capital LLC now owns 689,628 shares of the utilities provider’s stock valued at $43,613,000 after purchasing an additional 66,141 shares in the last quarter. 82.22% of the stock is owned by institutional investors.
A number of research firms recently weighed in on EIX. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 target price on shares of Edison International in a research report on Thursday, December 7th. Mizuho downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. Goldman Sachs set a $70.00 target price on shares of Edison International and gave the company a “hold” rating in a research report on Friday, December 15th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Citigroup set a $87.00 target price on shares of Edison International and gave the company a “hold” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.86.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Edison International had a net margin of 5.59% and a return on equity of 10.86%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm posted $1.02 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. sell-side analysts expect that Edison International will post 4.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 28th. Edison International’s dividend payout ratio (DPR) is presently 140.70%.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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