Edison International (NYSE:EIX) Shares Bought by PGGM Investments

PGGM Investments lifted its stake in shares of Edison International (NYSE:EIX) by 62.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,763 shares of the utilities provider’s stock after purchasing an additional 9,942 shares during the period. PGGM Investments’ holdings in Edison International were worth $2,057,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in EIX. FMR LLC lifted its stake in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Edison International during the 4th quarter worth $39,344,000. AustralianSuper Pty Ltd acquired a new position in shares of Edison International during the fourth quarter worth $31,877,000. Victory Capital Management Inc. increased its holdings in Edison International by 74.6% in the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock valued at $72,379,000 after buying an additional 387,215 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in Edison International by 565.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after buying an additional 291,619 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

NYSE:EIX opened at $55.86 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The firm’s fifty day moving average price is $57.02 and its 200 day moving average price is $74.75. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EIX. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Barclays lowered their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Morgan Stanley cut their price target on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.54.

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.