Summit Global Investments Has $414,000 Stake in Edison International (NYSE:EIX)

Summit Global Investments lifted its stake in Edison International (NYSE:EIX) by 100.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,184 shares of the utilities provider’s stock after acquiring an additional 2,594 shares during the period. Summit Global Investments’ holdings in Edison International were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. Crews Bank & Trust bought a new position in shares of Edison International in the fourth quarter valued at approximately $25,000. Groupama Asset Managment raised its holdings in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the period. Larson Financial Group LLC raised its holdings in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the period. Sierra Ocean LLC acquired a new position in Edison International during the 4th quarter worth $33,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 200 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EIX shares. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Mizuho cut their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

NYSE:EIX opened at $58.59 on Tuesday. The firm has a market capitalization of $22.56 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The firm has a 50-day moving average price of $55.27 and a 200 day moving average price of $73.20.

Edison International (NYSE:EIX) last issued 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). The company 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%. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company 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 annualized dividend and a dividend yield of 5.65%. Edison International’s dividend payout ratio is presently 100.30%.

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.