Invesco Ltd. lifted its holdings in Edison International (NYSE:EIX - Free Report) by 38.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,816,638 shares of the utilities provider's stock after acquiring an additional 1,331,941 shares during the quarter. Invesco Ltd. owned 1.24% of Edison International worth $384,560,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of EIX. Bank of Montreal Can increased its stake in Edison International by 4.5% during the 4th quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider's stock worth $60,018,000 after buying an additional 32,317 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Edison International by 5,334.4% in the 4th quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock valued at $21,291,000 after purchasing an additional 261,761 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Edison International in the 4th quarter valued at $255,000. Russell Investments Group Ltd. boosted its holdings in Edison International by 10.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,210,887 shares of the utilities provider's stock valued at $96,639,000 after acquiring an additional 112,588 shares during the period. Finally, Wedbush Securities Inc. boosted its stake in shares of Edison International by 26.4% in the fourth quarter. Wedbush Securities Inc. now owns 7,922 shares of the utilities provider's stock valued at $633,000 after purchasing an additional 1,656 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.
Edison International Trading Down 0.2 %
Shares of EIX traded down $0.11 during trading hours on Tuesday, reaching $57.11. The stock had a trading volume of 440,235 shares, compared to its average volume of 2,919,025. The company has a market cap of $21.99 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.07 and a beta of 0.74. 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 firm has a 50-day moving average of $54.95 and a 200 day moving average of $69.83. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.
Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. Edison International's payout ratio is 100.30%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on EIX shares. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Morgan Stanley increased their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Edison International has an average rating of "Moderate Buy" and a consensus target price of $76.75.
Read Our Latest Analysis on EIX
Edison International Company 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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