Toronto Dominion Bank Has $15.76 Million Stock Position in Edison International (NYSE:EIX)

Toronto Dominion Bank grew its position in Edison International (NYSE:EIX - Free Report) by 45.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,916 shares of the utilities provider's stock after purchasing an additional 56,571 shares during the period. Toronto Dominion Bank's holdings in Edison International were worth $15,756,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EIX. FMR LLC increased its holdings in 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 in the last quarter. abrdn plc boosted its position in shares of Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock worth $123,149,000 after buying an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider's stock valued at $68,081,000 after buying an additional 422,752 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider's stock valued at $22,884,000 after buying an additional 272,876 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Edison International during the second quarter worth $18,484,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Shares of Edison International stock traded up $0.27 during trading hours on Friday, reaching $81.89. The company's stock had a trading volume of 1,197,246 shares, compared to its average volume of 2,029,532. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company's 50 day simple moving average is $84.35 and its 200 day simple moving average is $81.06. Edison International has a one year low of $63.15 and a one year high of $88.77. The stock has a market cap of $31.70 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. As a group, analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 price target on the stock. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Barclays increased their target price on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut their price target on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

About Edison International

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.