Assenagon Asset Management S.A. Increases Stake in Edison International (NYSE:EIX)

Assenagon Asset Management S.A. increased its position in shares of Edison International (NYSE:EIX) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,900 shares of the utilities provider’s stock after buying an additional 2,000 shares during the period. Assenagon Asset Management S.A.’s holdings in Edison International were worth $1,953,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EIX. Price T Rowe Associates Inc. MD increased its stake in shares of Edison International by 111.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,763,168 shares of the utilities provider’s stock valued at $590,725,000 after buying an additional 4,625,141 shares during the period. Bank of New York Mellon Corp boosted its position in Edison International by 87.2% during the second quarter. Bank of New York Mellon Corp now owns 4,420,925 shares of the utilities provider’s stock valued at $298,013,000 after purchasing an additional 2,059,350 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Edison International by 1,931.7% during the second quarter. Nuveen Asset Management LLC now owns 2,052,784 shares of the utilities provider’s stock valued at $138,377,000 after purchasing an additional 1,951,745 shares in the last quarter. Steadfast Capital Management LP bought a new stake in Edison International during the second quarter valued at about $90,266,000. Finally, Pictet Asset Management Ltd. boosted its position in Edison International by 62.9% during the second quarter. Pictet Asset Management Ltd. now owns 2,504,575 shares of the utilities provider’s stock valued at $168,833,000 after purchasing an additional 966,848 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Shares of NYSE EIX opened at $70.52 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.64 and a current ratio of 0.69. The company has a market cap of $24.97 billion, a PE ratio of 16.99, a P/E/G ratio of 2.85 and a beta of 0.10. The business has a 50-day simple moving average of $72.90 and a two-hundred day simple moving average of $67.56. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $76.45.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.43. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $3.15 billion. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that Edison International will post 4.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.613 dividend. This represents a $2.45 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Edison International’s previous quarterly dividend of $0.61. Edison International’s dividend payout ratio (DPR) is currently 59.04%.

A number of equities research analysts recently weighed in on the company. Mizuho dropped their price objective on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank of Canada raised their price objective on Edison International to $79.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. They noted that the move was a valuation call. Wells Fargo & Co set a $73.00 price objective on Edison International and gave the company a “hold” rating in a research report on Friday, July 26th. TheStreet raised Edison International from a “c+” rating to a “b-” rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised their price objective on Edison International from $70.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Edison International presently has a consensus rating of “Hold” and an average price target of $74.09.

Edison International Company Profile

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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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