Ausdal Financial Partners Inc. Takes Position in Edison International (NYSE:EIX)

Ausdal Financial Partners Inc. bought a new position in shares of Edison International (NYSE:EIX) during the fourth quarter, Holdings Channel.com reports. The fund bought 11,356 shares of the utilities provider’s stock, valued at approximately $907,000.

A number of other large investors also recently modified their holdings of EIX. Swedbank AB raised its holdings in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after buying an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International in the 4th quarter worth about $235,000. KBC Group NV raised its holdings in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 11,764 shares during the last quarter. abrdn plc lifted its position in Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 0.9 %

EIX opened at $57.75 on Thursday. The company’s 50-day moving average price is $55.17 and its two-hundred day moving average price is $72.89. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed 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 5.73%. Edison International’s dividend payout ratio is currently 100.30%.

Analysts Set New Price Targets

Several analysts have recently commented on EIX shares. The Goldman Sachs Group lowered their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. One investment 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. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

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.