Lincoln National Corp Grows Position in Edison International (NYSE:EIX)

Lincoln National Corp raised its holdings in shares of Edison International (NYSE:EIX) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,175 shares of the utilities provider’s stock after acquiring an additional 636 shares during the period. Lincoln National Corp’s holdings in Edison International were worth $1,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Maryland State Retirement & Pension System raised its position in Edison International by 1.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 351,157 shares of the utilities provider’s stock worth $25,104,000 after acquiring an additional 4,251 shares during the period. Metis Global Partners LLC lifted its position in shares of Edison International by 17.6% during the fourth quarter. Metis Global Partners LLC now owns 66,539 shares of the utilities provider’s stock worth $4,757,000 after purchasing an additional 9,951 shares in the last quarter. Sapient Capital LLC acquired a new stake in Edison International in the fourth quarter valued at approximately $217,000. Axxcess Wealth Management LLC raised its holdings in Edison International by 3.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 6,681 shares of the utilities provider’s stock valued at $478,000 after acquiring an additional 220 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in Edison International in the fourth quarter valued at approximately $1,945,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Barclays increased their price target on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. TheStreet downgraded Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Royal Bank of Canada cut their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Mizuho dropped their price objective on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.78.

Edison International Stock Performance

Edison International stock opened at $74.76 on Friday. The stock has a market cap of $28.76 billion, a P/E ratio of 32.79 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The stock has a 50 day moving average of $69.79 and a 200-day moving average of $68.14. Edison International has a 52 week low of $58.82 and a 52 week high of $74.88.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio is presently 136.84%.

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.