New York Life Investment Management LLC Buys 225 Shares of Edison International (NYSE:EIX)

New York Life Investment Management LLC raised its stake in Edison International (NYSE:EIX) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 61,958 shares of the utilities provider’s stock after buying an additional 225 shares during the period. New York Life Investment Management LLC’s holdings in Edison International were worth $4,429,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EIX. Victory Capital Management Inc. increased its holdings in Edison International by 27.4% during the fourth quarter. Victory Capital Management Inc. now owns 600,168 shares of the utilities provider’s stock valued at $42,906,000 after buying an additional 129,101 shares during the period. Gibraltar Capital Management Inc. raised its position in shares of Edison International by 1.5% in the 4th quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after acquiring an additional 174 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of Edison International by 37.4% during the 4th quarter. Mission Wealth Management LP now owns 8,492 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 2,310 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in Edison International by 24.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 366,816 shares of the utilities provider’s stock valued at $26,224,000 after purchasing an additional 71,962 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Edison International by 169.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 17,800 shares of the utilities provider’s stock valued at $1,273,000 after purchasing an additional 11,204 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $72.34 on Friday. The company has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95. Edison International has a 12-month low of $58.82 and a 12-month high of $74.40. The business’s 50 day moving average is $69.41 and its two-hundred day moving average is $67.93. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.31%. Edison International’s payout ratio is currently 136.84%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent analyst reports. Barclays upped their price target on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Mizuho decreased their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.78.

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.