Intact Investment Management Inc. grew its stake in shares of Edison International (NYSE:EIX - Free Report) by 9,435.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,100 shares of the utilities provider's stock after acquiring an additional 79,260 shares during the quarter. Intact Investment Management Inc.'s holdings in Edison International were worth $6,395,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC grew its stake in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Edison International during the fourth quarter worth about $39,344,000. AustralianSuper Pty Ltd purchased a new stake in Edison International in the fourth quarter valued at approximately $31,877,000. Victory Capital Management Inc. increased its holdings in Edison International by 74.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider's stock worth $72,379,000 after buying an additional 387,215 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in Edison International by 565.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider's stock worth $27,400,000 after buying an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
EIX has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $48.00 and set an "underweight" rating on the stock in a research note on Friday, February 14th. LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Mizuho lowered their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.54.
Check Out Our Latest Research Report on EIX
Edison International Price Performance
Shares of NYSE EIX traded up $1.18 during midday trading on Friday, hitting $57.01. The stock had a trading volume of 3,615,120 shares, compared to its average volume of 6,009,011. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a 50 day simple moving average of $56.56 and a 200-day simple moving average of $74.48. The company has a market capitalization of $21.95 billion, a PE ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87. 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 announced its quarterly earnings data 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. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.
Edison International Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.81%. Edison International's dividend payout ratio is presently 100.30%.
Edison International Profile
(
Free Report)
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.
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