Geode Capital Management LLC Boosts Position in Edison International (NYSE:EIX)

Geode Capital Management LLC grew its holdings in shares of Edison International (NYSE:EIX) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,983,519 shares of the utilities provider’s stock after buying an additional 362,999 shares during the quarter. Geode Capital Management LLC owned 2.58% of Edison International worth $795,123,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Edison International by 207.9% in the 4th quarter. National Bank of Canada FI now owns 698,939 shares of the utilities provider’s stock valued at $55,807,000 after purchasing an additional 471,968 shares in the last quarter. FSB Premier Wealth Management Inc. boosted its position in shares of Edison International by 5.2% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider’s stock worth $352,000 after buying an additional 217 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Edison International by 22.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 39,021 shares of the utilities provider’s stock valued at $3,115,000 after buying an additional 7,152 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Edison International by 5.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 13,126 shares of the utilities provider’s stock valued at $1,048,000 after buying an additional 722 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Edison International by 7.1% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 358,176 shares of the utilities provider’s stock worth $28,597,000 after acquiring an additional 23,631 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $59.92 on Thursday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $23.07 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.07 and a beta of 0.87. The stock has a 50 day moving average of $54.89 and a 200-day moving average of $71.97.

Edison International (NYSE:EIX) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.52%. Edison International’s dividend payout ratio (DPR) is 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

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.