Capital International Investors lifted its position in shares of Edison International (NYSE:EIX) by 26.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,741,987 shares of the utilities provider’s stock after acquiring an additional 4,492,182 shares during the quarter. Capital International Investors owned approximately 6.06% of Edison International worth $1,639,563,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in EIX. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Edison International during the 3rd quarter worth $3,394,000. Voya Investment Management LLC grew its holdings in Edison International by 479.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,093,313 shares of the utilities provider’s stock worth $82,458,000 after acquiring an additional 904,718 shares during the last quarter. Voya Financial Advisors Inc. bought a new stake in Edison International during the 3rd quarter worth about $206,000. New Mexico Educational Retirement Board boosted its stake in shares of Edison International by 2.2% in the 3rd quarter. New Mexico Educational Retirement Board now owns 27,302 shares of the utilities provider’s stock valued at $2,059,000 after purchasing an additional 600 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Edison International by 5.7% in the 3rd quarter. State Street Corp now owns 26,002,843 shares of the utilities provider’s stock valued at $1,976,858,000 after purchasing an additional 1,411,050 shares during the last quarter. 90.04% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Cfra raised their target price on shares of Edison International from $62.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, February 28th. UBS Group boosted their price target on Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Vertical Research assumed coverage on Edison International in a report on Monday, February 24th. They set a “buy” rating and a $87.00 price target on the stock. Barclays reissued a “hold” rating and issued a $68.00 price target on shares of Edison International in a research report on Friday, March 13th. Finally, Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $79.58.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.01). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Edison International had a net margin of 10.89% and a return on equity of 11.73%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.6375 dividend. The ex-dividend date is Monday, March 30th. This represents a $2.55 annualized dividend and a yield of 4.37%. Edison International’s dividend payout ratio (DPR) is currently 54.26%.
Edison International 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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