Dynamic Technology Lab Private Ltd Takes $1.69 Million Position in Edison International (NYSE:EIX)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Edison International (NYSE:EIX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,220 shares of the utilities provider’s stock, valued at approximately $1,694,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Edison International during the 4th quarter worth about $323,443,000. Vanguard Group Inc. raised its position in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after buying an additional 1,559,501 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Edison International during the fourth quarter valued at approximately $39,344,000. National Bank of Canada FI grew its stake in Edison International by 207.9% in the 4th quarter. National Bank of Canada FI now owns 698,939 shares of the utilities provider’s stock worth $55,807,000 after acquiring an additional 471,968 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in Edison International in the 4th quarter valued at $31,877,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 6.3 %

Shares of NYSE EIX opened at $54.71 on Friday. The stock has a fifty day moving average price of $54.84 and a 200 day moving average price of $71.65. The company has a market cap of $21.06 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

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 issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Analyst Ratings Changes

A number of brokerages have recently commented on EIX. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley lifted their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average 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.