117,163 Shares in Edison International (NYSE:EIX) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in Edison International (NYSE:EIX) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 117,163 shares of the utilities provider’s stock, valued at approximately $9,353,000.

Several other hedge funds have also bought and sold shares of EIX. HighTower Advisors LLC increased its holdings in shares of Edison International by 2.9% in the third quarter. HighTower Advisors LLC now owns 39,237 shares of the utilities provider’s stock worth $3,404,000 after purchasing an additional 1,111 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Edison International in the 3rd quarter worth approximately $1,452,000. IHT Wealth Management LLC purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $245,000. Quantinno Capital Management LP boosted its position in shares of Edison International by 21.8% during the 3rd quarter. Quantinno Capital Management LP now owns 31,297 shares of the utilities provider’s stock valued at $2,726,000 after acquiring an additional 5,595 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Edison International by 5.2% in the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock valued at $26,973,000 after purchasing an additional 15,181 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 2.2 %

Shares of EIX opened at $53.54 on Tuesday. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.07 and a beta of 0.74. 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 1-year low of $49.06 and a 1-year high of $88.77. The company has a 50-day moving average of $54.76 and a 200 day moving average of $71.24.

Edison International (NYSE:EIX) last posted 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 net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research reports. 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 report on Wednesday, January 15th. Barclays decreased their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley boosted their price objective on Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased their price objective 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. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.