Hexavest Inc. boosted its stake in Edison International (NYSE:EIX) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 607,866 shares of the utilities provider’s stock after acquiring an additional 8,696 shares during the period. Hexavest Inc.’s holdings in Edison International were worth $38,441,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. First Command Financial Services Inc. purchased a new position in shares of Edison International during the 4th quarter worth $154,000. Parametric Portfolio Associates LLC lifted its stake in shares of Edison International by 1.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,001,557 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 12,967 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Edison International during the 3rd quarter worth $557,000. Americafirst Capital Management LLC lifted its stake in shares of Edison International by 190.4% during the 3rd quarter. Americafirst Capital Management LLC now owns 15,357 shares of the utilities provider’s stock worth $1,185,000 after purchasing an additional 10,069 shares during the period. Finally, IFM Investors Pty Ltd purchased a new position in shares of Edison International during the 3rd quarter worth $714,000. 81.14% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on EIX shares. Royal Bank of Canada reissued a “buy” rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. SunTrust Banks reissued a “buy” rating and set a $89.00 price target on shares of Edison International in a research note on Monday, October 2nd. Mizuho reissued a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Monday, October 9th. Citigroup increased their price target on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Finally, Bank of America reissued a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and a consensus target price of $80.67.

Edison International (NYSE EIX) opened at $61.42 on Friday. Edison International has a 52-week low of $61.25 and a 52-week high of $83.38. The firm has a market capitalization of $20,304.55, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.29 and a beta of 0.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. analysts predict that Edison International will post 4.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.605 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, December 28th. Edison International’s dividend payout ratio is currently 54.63%.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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