Mackenzie Financial Corp Increases Stock Holdings in Edison International (NYSE:EIX)

Mackenzie Financial Corp increased its holdings in Edison International (NYSE:EIX) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 422,747 shares of the utilities provider’s stock after purchasing an additional 5,220 shares during the period. Mackenzie Financial Corp’s holdings in Edison International were worth $30,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EIX. RVW Wealth LLC purchased a new stake in shares of Edison International in the third quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Edison International in the fourth quarter valued at $27,000. WASHINGTON TRUST Co grew its position in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Edison International in the first quarter valued at $41,000. Finally, Lindbrook Capital LLC boosted its holdings in Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EIX shares. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. Barclays lifted their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Finally, Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Edison International has an average rating of “Hold” and a consensus price target of $73.60.

Edison International Stock Up 1.8 %

Shares of Edison International stock opened at $68.04 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. The firm has a market cap of $26.17 billion, a P/E ratio of 21.81 and a beta of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92. The business has a 50-day moving average price of $68.29 and a 200 day moving average price of $67.32.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same period in the previous year, the company earned $1.14 earnings per share. On average, sell-side analysts forecast that Edison International will post 5.01 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio is currently 100.00%.

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.