PFG Investments LLC Buys 2,996 Shares of Edison International (NYSE:EIX)

PFG Investments LLC boosted its holdings in Edison International (NYSE:EIX) by 50.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,897 shares of the utilities provider’s stock after acquiring an additional 2,996 shares during the period. PFG Investments LLC’s holdings in Edison International were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Ausbil Investment Management Ltd grew its stake in shares of Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after buying an additional 47,784 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Edison International during the fourth quarter valued at approximately $11,734,000. California Public Employees Retirement System increased its holdings in shares of Edison International by 62.1% during the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock valued at $108,236,000 after acquiring an additional 580,117 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Edison International by 1.5% during the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock valued at $3,581,000 after acquiring an additional 834 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock valued at $30,222,000 after acquiring an additional 5,220 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX traded up $1.19 during trading on Monday, reaching $71.33. 2,448,487 shares of the stock traded hands, compared to its average volume of 2,188,241. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The company has a 50-day moving average of $69.08 and a 200-day moving average of $67.80. The stock has a market capitalization of $27.44 billion, a P/E ratio of 22.86 and a beta of 0.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.37%. Edison International’s payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EIX. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Barclays upped their price target on Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.60.

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.