Allstate Corp Takes $938,000 Position in Edison International (NYSE:EIX)

Allstate Corp acquired a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,743 shares of the utilities provider’s stock, valued at approximately $938,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. Jamison Private Wealth Management Inc. lifted its position in Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock worth $550,000 after buying an additional 174 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Edison International by 2.9% during the 4th quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 176 shares during the period. Old Port Advisors lifted its holdings in shares of Edison International by 0.9% during the 4th quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after acquiring an additional 180 shares during the period. Centre Asset Management LLC boosted its position in shares of Edison International by 8.1% in the fourth quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 199 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its holdings in Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 1.3 %

Shares of EIX opened at $58.95 on Tuesday. Edison International has a one year low of $49.06 and a one year high of $88.77. The stock has a 50-day moving average price of $54.93 and a 200 day moving average price of $72.24. 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 company has a market capitalization of $22.70 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 5.61%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. Finally, Barclays decreased their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. 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 stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $76.82.

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.