Van Lanschot Kempen Investment Management N.V. grew its stake in Edison International (NYSE:EIX - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,841 shares of the utilities provider's stock after purchasing an additional 26,286 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Edison International were worth $6,774,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. TD Waterhouse Canada Inc. increased its stake in Edison International by 22.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,837 shares of the utilities provider's stock valued at $147,000 after buying an additional 337 shares during the period. MetLife Investment Management LLC increased its stake in shares of Edison International by 2.0% during the fourth quarter. MetLife Investment Management LLC now owns 102,348 shares of the utilities provider's stock worth $8,171,000 after acquiring an additional 2,036 shares during the period. Norinchukin Bank The increased its stake in shares of Edison International by 17.6% during the fourth quarter. Norinchukin Bank The now owns 20,492 shares of the utilities provider's stock worth $1,636,000 after acquiring an additional 3,062 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Edison International by 0.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock valued at $4,365,000 after purchasing an additional 218 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Edison International by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,724,796 shares of the utilities provider's stock valued at $137,706,000 after purchasing an additional 74,314 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.
Analyst Ratings Changes
EIX has been the subject of a number of analyst reports. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a report on Wednesday. JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.75.
Read Our Latest Report on EIX
Edison International Price Performance
Shares of NYSE:EIX traded down $0.25 on Friday, hitting $57.95. The company had a trading volume of 2,966,172 shares, compared to its average volume of 2,951,958. The business has a 50 day moving average of $55.98 and a 200 day moving average of $68.44. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a market cap of $22.31 billion, a PE ratio of 16.99, a PEG ratio of 1.07 and a beta of 0.74. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.
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 analysts' consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.
Edison International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.71%. Edison International's dividend payout ratio (DPR) is presently 100.30%.
About Edison International
(
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.
Featured Stories
Before you consider Edison International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edison International wasn't on the list.
While Edison International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
