Forsta AP Fonden Purchases 4,700 Shares of Edison International (NYSE:EIX)

Forsta AP Fonden lifted its stake in Edison International (NYSE:EIX) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,000 shares of the utilities provider’s stock after buying an additional 4,700 shares during the period. Forsta AP Fonden’s holdings in Edison International were worth $13,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its position in Edison International by 11.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 873,075 shares of the utilities provider’s stock valued at $69,706,000 after purchasing an additional 91,339 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Edison International by 6.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 11,389 shares of the utilities provider’s stock valued at $909,000 after purchasing an additional 724 shares during the period. KBC Group NV increased its holdings in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after purchasing an additional 11,764 shares during the period. Blue Trust Inc. increased its holdings in Edison International by 28.8% in the fourth quarter. Blue Trust Inc. now owns 3,175 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 710 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new stake in Edison International during the fourth quarter valued at $259,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EIX shares. Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Finally, UBS Group decreased their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Down 0.6 %

Shares of NYSE:EIX opened at $55.79 on Thursday. The firm has a fifty day moving average price of $76.07 and a two-hundred day moving average price of $80.73. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $55.27 and a one year high of $88.77. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

Edison International Company 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.