New York Life Investment Management LLC Raises Holdings in Edison International (NYSE:EIX)

New York Life Investment Management LLC boosted its stake in shares of Edison International (NYSE:EIX) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,789 shares of the utilities provider’s stock after buying an additional 529 shares during the period. New York Life Investment Management LLC’s holdings in Edison International were worth $4,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its position in Edison International by 10.8% during the third quarter. First Trust Direct Indexing L.P. now owns 9,535 shares of the utilities provider’s stock valued at $830,000 after purchasing an additional 932 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Edison International in the 3rd quarter valued at about $308,000. US Bancorp DE grew its position in shares of Edison International by 1.2% in the 3rd quarter. US Bancorp DE now owns 61,744 shares of the utilities provider’s stock worth $5,377,000 after buying an additional 743 shares during the last quarter. Private Wealth Group LLC bought a new position in shares of Edison International during the 3rd quarter worth approximately $241,000. Finally, Farther Finance Advisors LLC lifted its position in Edison International by 26.4% during the third quarter. Farther Finance Advisors LLC now owns 1,433 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 299 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 6.0 %

Shares of Edison International stock opened at $54.45 on Friday. The stock has a market cap of $21.08 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The firm has a fifty day moving average price of $61.38 and a 200 day moving average price of $76.46. 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 released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Equities research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.08%. Edison International’s payout ratio is 97.07%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EIX shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Finally, Barclays cut their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.75.

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.