AlphaQuest LLC Raises Stock Holdings in Edison International (NYSE:EIX)

AlphaQuest LLC boosted its holdings in Edison International (NYSE:EIX) by 21.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,826 shares of the utilities provider’s stock after acquiring an additional 3,361 shares during the period. AlphaQuest LLC’s holdings in Edison International were worth $1,503,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Crews Bank & Trust purchased a new position in Edison International in the 4th quarter worth about $25,000. Groupama Asset Managment increased its position in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Edison International during the 3rd quarter valued at about $32,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Edison International during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 2.5 %

EIX stock opened at $56.46 on Monday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.07 and a beta of 0.87. The business has a 50 day simple moving average of $58.91 and a two-hundred day simple moving average of $75.41.

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 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. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.86%. Edison International’s payout ratio is 100.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Mizuho reduced their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Morgan Stanley reduced their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.54.

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.