Intact Investment Management Inc. Has $6.40 Million Stake in Edison International (NYSE:EIX)

Intact Investment Management Inc. grew its stake in Edison International (NYSE:EIX - Free Report) by 9,435.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,100 shares of the utilities provider's stock after purchasing an additional 79,260 shares during the period. Intact Investment Management Inc.'s holdings in Edison International were worth $6,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EIX. State Street Corp grew its position in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. FMR LLC lifted its stake in shares of Edison International by 8.7% in 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 period. Geode Capital Management LLC lifted its stake in shares of Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock valued at $835,142,000 after purchasing an additional 210,461 shares during the period. Amundi raised its stake in Edison International by 0.3% during the 4th quarter. Amundi now owns 3,118,404 shares of the utilities provider's stock worth $248,973,000 after buying an additional 10,396 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Edison International by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock worth $209,191,000 after buying an additional 32,391 shares during the period. 88.95% of the stock is currently owned by institutional investors.

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Edison International Stock Performance

NYSE:EIX traded up $1.18 during mid-day 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. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. The company's 50 day simple moving average is $56.56 and its 200 day simple moving average is $74.48. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. On average, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given 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 (DPR) is presently 100.30%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Mizuho decreased their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Morgan Stanley decreased their price objective on Edison International from $71.00 to $48.00 and set an "underweight" rating for the company in a report on Friday, February 14th. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $76.54.

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.