NEOS Investment Management LLC Boosts Holdings in Edison International (NYSE:EIX)

NEOS Investment Management LLC raised its holdings in shares of Edison International (NYSE:EIX) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,311 shares of the utilities provider’s stock after buying an additional 4,974 shares during the period. NEOS Investment Management LLC’s holdings in Edison International were worth $1,701,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Edison International in the fourth quarter worth about $39,344,000. AustralianSuper Pty Ltd bought a new position in shares of Edison International in the fourth quarter worth about $31,877,000. Victory Capital Management Inc. lifted its position in shares of Edison International by 74.6% during the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after buying an additional 387,215 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Edison International during the 4th quarter valued at approximately $23,503,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EIX has been the topic of several analyst reports. Barclays lowered their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Mizuho lowered their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report 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 note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

NYSE EIX opened at $58.20 on Friday. The stock has a market capitalization of $22.41 billion, a PE ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The business has a 50 day simple moving average of $55.00 and a two-hundred day simple moving average of $72.50. 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 (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. On average, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is 100.30%.

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.