APG Asset Management N.V. Acquires New Stake in Edison International (NYSE:EIX)

APG Asset Management N.V. purchased a new position in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 207,700 shares of the utilities provider's stock, valued at approximately $16,014,000. APG Asset Management N.V. owned about 0.05% of Edison International as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of Edison International by 14.8% in the 4th quarter. Advisory Services Network LLC now owns 3,396 shares of the utilities provider's stock valued at $271,000 after acquiring an additional 438 shares during the period. Bank of Nova Scotia grew its position in Edison International by 390.8% during the 4th quarter. Bank of Nova Scotia now owns 242,233 shares of the utilities provider's stock worth $19,340,000 after purchasing an additional 192,882 shares during the last quarter. Invesco Ltd. increased its stake in Edison International by 38.2% in the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock valued at $384,560,000 after purchasing an additional 1,331,941 shares during the period. Bank of Montreal Can raised its holdings in shares of Edison International by 4.5% in the fourth quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider's stock valued at $60,018,000 after buying an additional 32,317 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Edison International by 5,334.4% during the fourth quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock worth $21,291,000 after buying an additional 261,761 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

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Edison International Price Performance

Shares of EIX traded down $0.13 on Tuesday, reaching $57.09. The stock had a trading volume of 473,794 shares, compared to its average volume of 2,919,177. The firm has a 50-day moving average of $54.95 and a 200 day moving average of $69.83. The firm has a market capitalization of $21.98 billion, a PE ratio of 16.74, a PEG ratio of 1.07 and a beta of 0.74. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to analysts' expectations of $3.92 billion. Sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 100.30%.

Analyst Upgrades and Downgrades

Several analysts have commented on EIX shares. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Barclays reduced their target price on shares of Edison International from $65.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $76.75.

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.