Horizon Investments LLC Has $1.34 Million Stake in Edison International (NYSE:EIX)

Horizon Investments LLC lowered its stake in shares of Edison International (NYSE:EIX) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,984 shares of the utilities provider’s stock after selling 723 shares during the period. Horizon Investments LLC’s holdings in Edison International were worth $1,342,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC grew its holdings 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 purchasing an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the period. Amundi raised its stake in shares of Edison International by 0.3% in the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider’s stock valued at $248,973,000 after purchasing an additional 10,396 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock worth $209,191,000 after purchasing an additional 32,391 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Morgan Stanley dropped their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Price Performance

Shares of EIX stock opened at $58.53 on Thursday. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The stock has a market capitalization of $22.54 billion, a PE ratio of 17.16, a PEG ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock’s fifty day moving average is $55.58 and its 200-day moving average is $73.91.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.66%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.