CANADA LIFE ASSURANCE Co Purchases 144,134 Shares of Edison International (NYSE:EIX)

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 877,469 shares of the utilities provider's stock after acquiring an additional 144,134 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.23% of Edison International worth $69,984,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in EIX. Canada Pension Plan Investment Board lifted its stake in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after buying an additional 2,643,571 shares during the last quarter. First Commonwealth Financial Corp PA lifted its position in Edison International by 4.7% during the 4th quarter. First Commonwealth Financial Corp PA now owns 10,560 shares of the utilities provider's stock worth $843,000 after acquiring an additional 476 shares during the last quarter. Zacks Investment Management boosted its holdings in Edison International by 3.7% during the fourth quarter. Zacks Investment Management now owns 55,625 shares of the utilities provider's stock valued at $4,441,000 after acquiring an additional 1,973 shares during the period. NewEdge Advisors LLC grew its position in shares of Edison International by 4.4% in the fourth quarter. NewEdge Advisors LLC now owns 61,820 shares of the utilities provider's stock valued at $4,936,000 after purchasing an additional 2,610 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Edison International by 59.2% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 52,165 shares of the utilities provider's stock worth $4,165,000 after purchasing an additional 19,393 shares during the period. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Mizuho dropped their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company cut their target price on shares of 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 boosted their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Finally, UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $76.75.

Edison International Price Performance

NYSE:EIX traded down $0.20 on Wednesday, reaching $57.62. The stock had a trading volume of 737,219 shares, compared to its average volume of 2,943,613. The company has a market capitalization of $22.19 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The stock has a fifty day moving average price of $55.66 and a 200-day moving average price of $68.70. 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 has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released 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). The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's dividend payout ratio is 100.30%.

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.