Advanced Portfolio Management LLC Makes New Investment in Edison International (NYSE:EIX)

Advanced Portfolio Management LLC acquired a new position in Edison International (NYSE:EIXFree Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,311 shares of the utilities provider’s stock, valued at approximately $399,000.

A number of other institutional investors have also added to or reduced their stakes in EIX. Dimensional Fund Advisors LP raised its holdings in Edison International by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after purchasing an additional 137,840 shares in the last quarter. Aviva PLC raised its stake in shares of Edison International by 21.5% in the first quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock worth $10,596,000 after buying an additional 26,797 shares during the period. Prudential PLC bought a new position in shares of Edison International in the first quarter worth about $688,000. Cetera Investment Advisers raised its stake in shares of Edison International by 30.5% in the first quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,617 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after buying an additional 731,841 shares during the period. Institutional investors own 88.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EIX. Mizuho decreased their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Morgan Stanley lifted their target price on Edison International from $52.00 to $53.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.60.

Check Out Our Latest Stock Report on Edison International

Edison International Price Performance

NYSE EIX traded down $1.47 during trading on Friday, hitting $66.55. 2,057,343 shares of the stock traded hands, compared to its average volume of 2,280,569. The company has a market capitalization of $25.59 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The firm has a 50-day simple moving average of $68.47 and a 200-day simple moving average of $67.24. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. Edison International has a 12-month low of $58.82 and a 12-month high of $74.92.

Edison International (NYSE:EIXGet Free Report) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter in the previous year, the business earned $1.14 EPS. As a group, analysts predict that Edison International will post 4.99 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is 100.00%.

About Edison International

(Free Report)

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also owns solar, hydro, and natural gas electric generating facilities.

See Also

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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