Jones Financial Companies Lllp Grows Stake in Edison International (NYSE:EIX)

Jones Financial Companies Lllp lifted its stake in shares of Edison International (NYSE:EIX) by 73.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,595 shares of the utilities provider’s stock after purchasing an additional 1,952 shares during the period. Jones Financial Companies Lllp’s holdings in Edison International were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EIX. State Street Corp increased its position in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the last quarter. FMR LLC grew its stake in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its holdings in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Edison International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after acquiring an additional 32,391 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 1.6 %

EIX stock opened at $56.09 on Wednesday. The company’s 50 day moving average is $57.99 and its 200 day moving average is $75.02. The stock has a market cap of $21.59 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. 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 has a 1-year low of $49.06 and a 1-year high of $88.77.

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 analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Sell-side analysts predict 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. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.90%. Edison International’s payout ratio is 100.30%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EIX shares. The Goldman Sachs Group reduced their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Finally, 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 research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

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.