23,200 Shares in Edison International (NYSE:EIX) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,200 shares of the utilities provider’s stock, valued at approximately $1,659,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Edison International by 1.7% in the first quarter. Vanguard Group Inc. now owns 44,530,226 shares of the utilities provider’s stock worth $3,121,569,000 after purchasing an additional 731,841 shares during the period. Pzena Investment Management LLC increased its position in shares of Edison International by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock worth $842,826,000 after purchasing an additional 197,259 shares during the period. Wellington Management Group LLP increased its position in shares of Edison International by 3.3% in the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after purchasing an additional 317,297 shares during the period. Clearbridge Investments LLC increased its position in shares of Edison International by 8.9% in the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after purchasing an additional 558,351 shares during the period. Finally, Invesco Ltd. grew its position in Edison International by 36.8% in the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock valued at $401,877,000 after acquiring an additional 1,541,989 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $69.93 on Friday. The stock’s 50 day moving average is $68.46 and its 200 day moving average is $67.39. 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 has a market cap of $26.90 billion, a P/E ratio of 22.41 and a beta of 0.96. Edison International has a one year low of $58.82 and a one year high of $74.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.14 earnings per share. As a group, research analysts expect that Edison International will post 5.01 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Wednesday, March 27th. Edison International’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EIX. 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. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Barclays lifted their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. Finally, Royal Bank of Canada reduced their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.60.

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.