Bleakley Financial Group LLC Acquires New Stake in Edison International (NYSE:EIX)

Bleakley Financial Group LLC acquired a new stake in Edison International (NYSE:EIX – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,023 shares of the utilities provider’s stock, valued at approximately $256,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. raised its stake in Edison International by 0.5% in the 4th quarter. Securian Asset Management Inc. now owns 31,240 shares of the utilities provider’s stock valued at $1,987,000 after purchasing an additional 169 shares during the last quarter. Lido Advisors LLC raised its stake in Edison International by 5.0% in the 3rd quarter. Lido Advisors LLC now owns 3,738 shares of the utilities provider’s stock valued at $211,000 after purchasing an additional 178 shares during the last quarter. CWM LLC raised its stake in Edison International by 3.2% in the 4th quarter. CWM LLC now owns 6,158 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 189 shares during the last quarter. Putnam Investments LLC raised its stake in Edison International by 0.4% in the 3rd quarter. Putnam Investments LLC now owns 54,485 shares of the utilities provider’s stock valued at $3,083,000 after purchasing an additional 205 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in Edison International by 5.1% in the 1st quarter. Wetherby Asset Management Inc. now owns 5,122 shares of the utilities provider’s stock valued at $359,000 after purchasing an additional 247 shares during the last quarter. 87.19% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

EIX opened at $73.63 on Wednesday. The stock’s 50-day moving average price is $70.49 and its 200 day moving average price is $66.79. Edison International has a 12-month low of $54.45 and a 12-month high of $74.92. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.89. The firm has a market cap of $28.20 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 3.98 and a beta of 0.80.

Edison International (NYSE:EIX – Get Rating) last posted its earnings results on Tuesday, May 2nd. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.05. Edison International had a return on equity of 12.48% and a net margin of 6.12%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the company earned $1.07 EPS. Edison International’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.74 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Friday, March 31st were paid a dividend of $0.7375 per share. This represents a $2.95 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, March 30th. Edison International’s payout ratio is 134.70%.

Insider Buying and Selling at Edison International

In other Edison International news, SVP J Andrew Murphy sold 22,471 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $72.03, for a total value of $1,618,586.13. Following the sale, the senior vice president now owns 12,989 shares of the company’s stock, valued at approximately $935,597.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EIX. Wells Fargo & Company upped their target price on Edison International from $73.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. Mizuho upped their target price on Edison International from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Monday, April 10th. Morgan Stanley upped their target price on Edison International from $50.00 to $57.00 and gave the company an “underweight” rating in a report on Thursday, April 20th. Credit Suisse Group dropped their target price on Edison International from $68.00 to $67.00 and set a “neutral” rating for the company in a report on Friday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on Edison International from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

About Edison International

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.