Vestcor Inc Buys 467 Shares of Edison International (NYSE:EIX)

Vestcor Inc boosted its stake in shares of Edison International (NYSE:EIX) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,453 shares of the utilities provider’s stock after acquiring an additional 467 shares during the quarter. Vestcor Inc’s holdings in Edison International were worth $1,713,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EIX. Crews Bank & Trust bought a new position in Edison International during the 4th quarter worth approximately $25,000. Groupama Asset Managment grew its stake in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Edison International during the third quarter worth $32,000. Finally, Sierra Ocean LLC acquired a new position in shares of Edison International in the fourth quarter valued at $33,000. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Mizuho decreased their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Barclays dropped their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

NYSE:EIX opened at $57.01 on Friday. The business has a 50 day moving average of $56.56 and a 200 day moving average of $74.55. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. 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.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.81%. Edison International’s dividend payout ratio is currently 100.30%.

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.