QRG Capital Management Inc. Boosts Holdings in Edison International (NYSE:EIX)

QRG Capital Management Inc. boosted its position in Edison International (NYSE:EIX) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,559 shares of the utilities provider’s stock after buying an additional 3,363 shares during the period. QRG Capital Management Inc.’s holdings in Edison International were worth $1,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares during the last quarter. FMR LLC grew its position in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC grew its position in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares during the last quarter. Bank of New York Mellon Corp grew its position in Edison International by 1.3% in the 4th 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 buying an additional 32,391 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the topic of several research analyst reports. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their target price 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. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Barclays decreased their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One research 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’s stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $78.75.

Edison International Price Performance

Edison International stock opened at $54.45 on Monday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50-day simple moving average is $61.38 and its 200 day simple moving average is $76.41. The firm has a market capitalization of $21.08 billion, a PE ratio of 15.97, a P/E/G ratio of 1.07 and a beta of 0.90.

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

Edison International Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 97.07%.

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.