Kovitz Investment Group Partners LLC Makes New Investment in Edison International (NYSE:EIX)

Kovitz Investment Group Partners LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,672 shares of the utilities provider’s stock, valued at approximately $453,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Geode Capital Management LLC grew its holdings in shares of Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after buying an additional 362,999 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Edison International by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock valued at $409,865,000 after buying an additional 50,451 shares during the period. Invesco Ltd. boosted its position in Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock worth $384,560,000 after acquiring an additional 1,331,941 shares during the period. Finally, Norges Bank acquired a new stake in Edison International during the 4th quarter worth about $323,443,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EIX shares. 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays raised their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Mizuho lowered their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average price target of $76.96.

Edison International Stock Up 2.0 %

Shares of EIX stock opened at $54.57 on Friday. The stock has a 50 day moving average of $56.45 and a 200-day moving average of $67.49. The firm has a market cap of $21.01 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the firm earned $1.13 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts predict 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 was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 6.07%. Edison International’s dividend payout ratio is 46.95%.

About Edison International

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.