AlphaQuest LLC Boosts Holdings in Edison International (NYSE:EIX)

AlphaQuest LLC increased its position in Edison International (NYSE:EIX) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,826 shares of the utilities provider’s stock after buying an additional 3,361 shares during the quarter. AlphaQuest LLC’s holdings in Edison International were worth $1,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EIX. Crews Bank & Trust purchased a new position in shares of Edison International in the fourth quarter worth $25,000. Groupama Asset Managment increased its position in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC increased its position in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC purchased a new position in Edison International during the 3rd quarter valued at $32,000. Finally, Sierra Ocean LLC purchased a new position in Edison International during the 4th quarter valued at $33,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research analyst reports. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

Shares of Edison International stock opened at $56.46 on Monday. The stock has a market cap of $21.74 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.07 and a beta of 0.87. The firm’s 50-day moving average is $58.91 and its 200 day moving average is $75.41. 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 quarterly 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). The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is 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.