Edison International (NYSE:EIX) Shares Purchased by Lincoln National Corp

Lincoln National Corp increased its holdings in shares of Edison International (NYSE:EIX) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,175 shares of the utilities provider’s stock after acquiring an additional 636 shares during the quarter. Lincoln National Corp’s holdings in Edison International were worth $1,013,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ausbil Investment Management Ltd raised its stake in Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after purchasing an additional 47,784 shares during the period. International Assets Investment Management LLC purchased a new position in Edison International during the fourth quarter worth about $11,734,000. California Public Employees Retirement System raised its stake in Edison International by 62.1% during the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after purchasing an additional 580,117 shares during the period. Metis Global Partners LLC raised its stake in Edison International by 1.5% during the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after purchasing an additional 834 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock worth $30,222,000 after purchasing an additional 5,220 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Up 1.2 %

EIX stock opened at $74.76 on Friday. The company has a fifty day moving average price of $69.79 and a 200 day moving average price of $68.14. Edison International has a 12 month low of $58.82 and a 12 month high of $74.88. The company has a market cap of $28.76 billion, a price-to-earnings ratio of 32.79 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given 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 yield of 4.17%. Edison International’s payout ratio is currently 136.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EIX shares. Mizuho reduced their price target on shares of Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. The Goldman Sachs Group started coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Barclays boosted their price target on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.