Nissay Asset Management Corp Japan ADV raised its stake in shares of Edison International (NYSE:EIX) by 83.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,186 shares of the utilities provider’s stock after buying an additional 20,991 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Edison International were worth $2,860,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc grew its position in shares of Edison International by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 24,922,577 shares of the utilities provider’s stock worth $1,686,760,000 after buying an additional 392,144 shares during the period. Macquarie Group Ltd. grew its position in shares of Edison International by 11.3% during the 4th quarter. Macquarie Group Ltd. now owns 13,067,013 shares of the utilities provider’s stock worth $741,814,000 after buying an additional 1,324,950 shares during the period. FMR LLC grew its position in shares of Edison International by 97.6% during the 4th quarter. FMR LLC now owns 5,520,041 shares of the utilities provider’s stock worth $313,373,000 after buying an additional 2,726,761 shares during the period. Boston Partners grew its position in shares of Edison International by 16.1% during the 4th quarter. Boston Partners now owns 5,358,938 shares of the utilities provider’s stock worth $304,227,000 after buying an additional 741,916 shares during the period. Finally, Northern Trust Corp grew its position in shares of Edison International by 2.4% during the 4th quarter. Northern Trust Corp now owns 4,298,950 shares of the utilities provider’s stock worth $244,052,000 after buying an additional 100,043 shares during the period. Institutional investors own 84.66% of the company’s stock.
Several equities analysts recently issued reports on EIX shares. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Friday, January 18th. Citigroup boosted their price objective on Edison International to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. ValuEngine upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Wells Fargo & Co lowered Edison International from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Monday, February 11th. Finally, Morgan Stanley boosted their price objective on Edison International from $76.00 to $79.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.14.
Shares of EIX opened at $59.85 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.74 and a quick ratio of 0.69. Edison International has a 52-week low of $45.50 and a 52-week high of $71.00. The company has a market capitalization of $19.60 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.49 and a beta of -0.05.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.25). Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Edison International’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that Edison International will post 4.37 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, March 28th. Edison International’s payout ratio is 59.04%.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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