Flputnam Investment Management Co. Buys Shares of 2,973 Edison International (NYSE:EIX)

Flputnam Investment Management Co. purchased a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,973 shares of the utilities provider’s stock, valued at approximately $213,000.

Other hedge funds have also made changes to their positions in the company. RVW Wealth LLC purchased a new stake in Edison International during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Edison International in the fourth quarter worth $27,000. WASHINGTON TRUST Co grew its stake in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 270 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Edison International during the first quarter worth $41,000. Finally, Lindbrook Capital LLC raised its stake in shares of Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of several recent research reports. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada cut their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Barclays lifted their price target on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus price target of $73.60.

Edison International Stock Performance

Shares of EIX stock opened at $68.13 on Friday. The stock’s 50-day moving average is $68.36 and its two-hundred day moving average is $67.32. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The firm has a market cap of $26.21 billion, a price-to-earnings ratio of 21.84 and a beta of 0.96.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same period in the prior year, the firm earned $1.14 EPS. Analysts predict that Edison International will post 5.01 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.58%. Edison International’s dividend payout ratio (DPR) is 100.00%.

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.