Fox Run Management L.L.C. Invests $1.49 Million in Edison International (NYSE:EIX)

Fox Run Management L.L.C. bought a new stake in Edison International (NYSE:EIX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,661 shares of the utilities provider’s stock, valued at approximately $1,490,000.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Edison International by 8.7% during the third 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. Raymond James Financial Inc. acquired a new stake in Edison International in the fourth quarter valued at $39,344,000. AustralianSuper Pty Ltd purchased a new stake in Edison International during the 4th quarter worth about $31,877,000. Victory Capital Management Inc. boosted its position in shares of Edison International by 74.6% during the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after acquiring an additional 387,215 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Edison International in the 4th quarter valued at about $23,503,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EIX shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley lifted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Barclays dropped their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Performance

NYSE:EIX opened at $58.32 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $22.45 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The firm’s fifty day moving average price is $55.24 and its 200 day moving average price is $73.60. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last released 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). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International’s dividend payout ratio is currently 100.30%.

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.