Point72 Asset Management L.P. Takes $14.51 Million Position in Edison International (NYSE:EIX)

Point72 Asset Management L.P. purchased a new position in Edison International (NYSE:EIX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 192,364 shares of the utilities provider’s stock, valued at approximately $14,506,000. Point72 Asset Management L.P. owned about 0.05% of Edison International at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EIX. Orion Portfolio Solutions LLC acquired a new position in Edison International in the 4th quarter worth about $39,000. Coastal Investment Advisors Inc. increased its holdings in Edison International by 30.5% in the fourth quarter. Coastal Investment Advisors Inc. now owns 625 shares of the utilities provider’s stock worth $42,000 after buying an additional 146 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in Edison International in the fourth quarter worth approximately $53,000. Ancora Advisors LLC bought a new position in Edison International during the fourth quarter valued at approximately $53,000. Finally, Sandy Spring Bank raised its position in Edison International by 34.4% during the fourth quarter. Sandy Spring Bank now owns 742 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.

Several analysts have commented on EIX shares. SunTrust Banks boosted their target price on shares of Edison International from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays cut their price target on shares of Edison International from $68.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday. Cfra lifted their price objective on shares of Edison International from $62.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a report on Tuesday, December 17th. Finally, UBS Group increased their target price on shares of Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $78.25.

Shares of Edison International stock traded up $3.91 on Thursday, reaching $57.73. The stock had a trading volume of 3,211,130 shares, compared to its average volume of 2,434,692. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.58 and a current ratio of 0.64. The business’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $71.06. The stock has a market cap of $18.27 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 3.57 and a beta of 0.32. Edison International has a fifty-two week low of $43.63 and a fifty-two week high of $78.93.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.01). Edison International had a net margin of 10.89% and a return on equity of 11.73%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Edison International will post 4.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.6375 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $2.55 annualized dividend and a dividend yield of 4.42%. Edison International’s dividend payout ratio is 54.26%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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