Mackenzie Financial Corp Boosts Stock Holdings in Edison International (NYSE:EIX)

Mackenzie Financial Corp grew its position in shares of Edison International (NYSE:EIX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 422,747 shares of the utilities provider’s stock after acquiring an additional 5,220 shares during the quarter. Mackenzie Financial Corp owned 0.11% of Edison International worth $30,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of EIX. Dimensional Fund Advisors LP boosted its holdings in Edison International by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,234,491 shares of the utilities provider’s stock worth $86,534,000 after acquiring an additional 137,840 shares during the last quarter. Aviva PLC boosted its holdings in shares of Edison International by 21.5% in the 1st quarter. Aviva PLC now owns 151,158 shares of the utilities provider’s stock worth $10,596,000 after buying an additional 26,797 shares during the last quarter. Prudential PLC purchased a new position in shares of Edison International in the 1st quarter worth about $688,000. Cetera Investment Advisers boosted its holdings in shares of Edison International by 30.5% in the 1st quarter. Cetera Investment Advisers now owns 6,916 shares of the utilities provider’s stock worth $485,000 after buying an additional 1,617 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Edison International by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after buying an additional 731,841 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EIX. Mizuho cut their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus target price of $73.60.

Edison International Stock Up 1.8 %

Shares of NYSE EIX opened at $68.04 on Thursday. Edison International has a one year low of $58.82 and a one year high of $74.92. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $68.29 and its two-hundred day simple moving average is $67.32. The stock has a market capitalization of $26.17 billion, a P/E ratio of 21.81 and a beta of 0.96.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Edison International had a net margin of 8.35% and a return on equity of 12.63%. During the same quarter in the previous year, the business posted $1.14 earnings per share. As a group, analysts expect that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.59%. Edison International’s dividend payout ratio is currently 100.00%.

Edison International Company 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.