OneAscent Financial Services LLC Acquires New Position in Edison International (NYSE:EIX)

OneAscent Financial Services LLC bought a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, HoldingsChannel reports. The firm bought 8,560 shares of the utilities provider’s stock, valued at approximately $683,000.

Several other hedge funds also recently made changes to their positions in EIX. Norges Bank bought a new position in Edison International during the fourth quarter worth $323,443,000. Vanguard Group Inc. lifted its position in shares of Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Edison International in the 4th quarter valued at about $39,344,000. National Bank of Canada FI grew its position in shares of Edison International by 207.9% during the 4th quarter. National Bank of Canada FI now owns 698,939 shares of the utilities provider’s stock valued at $55,807,000 after buying an additional 471,968 shares during the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in Edison International during the fourth quarter worth about $31,877,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 2.0 %

Edison International stock opened at $59.92 on Thursday. The company’s 50-day moving average price is $54.89 and its two-hundred day moving average price is $71.97. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. 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 (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.52%. Edison International’s dividend payout ratio is currently 100.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EIX shares. Morgan Stanley lifted their target price on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays lowered their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.82.

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.