294,377 Shares in Edison International (NYSE:EIX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 294,377 shares of the utilities provider’s stock, valued at approximately $23,503,000. KLP Kapitalforvaltning AS owned approximately 0.08% of Edison International at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in shares of Edison International by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,284,870 shares of the utilities provider’s stock valued at $262,264,000 after buying an additional 69,074 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Edison International by 46.5% in the fourth quarter. Mizuho Securities USA LLC now owns 36,693 shares of the utilities provider’s stock valued at $2,930,000 after acquiring an additional 11,651 shares during the period. Summit Global Investments lifted its holdings in Edison International by 100.2% in the fourth quarter. Summit Global Investments now owns 5,184 shares of the utilities provider’s stock valued at $414,000 after acquiring an additional 2,594 shares during the period. Whittier Trust Co. boosted its position in shares of Edison International by 4.9% during the 4th quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 200 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Edison International by 31.4% during the 4th quarter. iA Global Asset Management Inc. now owns 15,062 shares of the utilities provider’s stock worth $1,203,000 after purchasing an additional 3,595 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays dropped their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company decreased their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Stock Down 1.0 %

EIX opened at $58.32 on Friday. The business’s fifty day simple moving average is $55.24 and its 200 day simple moving average is $73.51. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The firm has a market cap of $22.45 billion, a P/E ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm 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%. As a group, equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is currently 100.30%.

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.