Premier Fund Managers Ltd Has $1.75 Million Stock Position in Edison International (NYSE:EIX)

Premier Fund Managers Ltd grew its holdings in shares of Edison International (NYSE:EIX) by 15.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,000 shares of the utilities provider’s stock after buying an additional 3,000 shares during the period. Premier Fund Managers Ltd’s holdings in Edison International were worth $1,752,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of EIX. New Age Alpha Advisors LLC boosted its stake in Edison International by 15,998.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 29,138 shares of the utilities provider’s stock worth $2,326,000 after acquiring an additional 28,957 shares in the last quarter. Norges Bank bought a new position in shares of Edison International during the 4th quarter worth about $323,443,000. NEOS Investment Management LLC grew its stake in shares of Edison International by 30.4% in the 4th quarter. NEOS Investment Management LLC now owns 21,311 shares of the utilities provider’s stock valued at $1,701,000 after buying an additional 4,974 shares during the period. UniSuper Management Pty Ltd increased its position in Edison International by 26.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 37,242 shares of the utilities provider’s stock valued at $2,973,000 after buying an additional 7,866 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its stake in Edison International by 25.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 42,617 shares of the utilities provider’s stock worth $3,403,000 after buying an additional 8,654 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of Edison International stock opened at $57.33 on Friday. The firm has a market capitalization of $22.07 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. 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 simple moving average is $55.09 and its 200 day simple moving average is $72.78. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. As a group, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.77%. Edison International’s payout ratio is 100.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.