85,908 Shares in Edison International (NYSE:EIX) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 85,908 shares of the utilities provider’s stock, valued at approximately $6,859,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its holdings in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the period. FMR LLC grew its position in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its position in Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares in the last quarter. Bank of New York Mellon Corp grew its position in Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after purchasing an additional 32,391 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE EIX opened at $55.34 on Tuesday. The firm has a 50-day moving average of $60.89 and a 200-day moving average of $76.21. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $21.42 billion, a PE ratio of 16.23, a P/E/G ratio of 1.07 and a beta of 0.90. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

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

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.98%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 100.30%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.25.

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.