Mutual of America Capital Management LLC Lowers Holdings in Edison International (NYSE:EIX)

Mutual of America Capital Management LLC decreased its holdings in Edison International (NYSE:EIX) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,282 shares of the utilities provider’s stock after selling 2,347 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Edison International were worth $3,666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Edison International in the 4th quarter valued at about $11,734,000. Peoples Bank OH purchased a new stake in Edison International in the 4th quarter valued at about $203,000. Nisa Investment Advisors LLC grew its holdings in Edison International by 1.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 39,737 shares of the utilities provider’s stock valued at $2,841,000 after buying an additional 462 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Edison International by 7.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 201,791 shares of the utilities provider’s stock valued at $14,448,000 after purchasing an additional 13,648 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Edison International by 0.8% in the 4th quarter. Arizona State Retirement System now owns 105,343 shares of the utilities provider’s stock valued at $7,531,000 after purchasing an additional 858 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $66.79 on Wednesday. The business’s 50 day moving average is $68.24 and its two-hundred day moving average is $67.31. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 21.41 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period in the prior year, the company posted $1.14 EPS. Analysts forecast that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.67%. Edison International’s dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EIX. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. 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. The Goldman Sachs Group began coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and an average target price of $73.60.

Edison International Company 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.