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

PGGM Investments grew its holdings in Edison International (NYSE:EIX) by 62.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,763 shares of the utilities provider’s stock after buying an additional 9,942 shares during the period. PGGM Investments’ holdings in Edison International were worth $2,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in Edison International during the 4th quarter valued at about $25,000. Groupama Asset Managment boosted its holdings in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Edison International during the third quarter worth approximately $32,000. Finally, Sierra Ocean LLC purchased a new position in Edison International during the fourth quarter worth approximately $33,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the subject of a number of recent research reports. Morgan Stanley cut their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. UBS Group upgraded 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 research report on Tuesday, February 18th. Mizuho decreased their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Barclays decreased their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and an average target price of $76.54.

Edison International Trading Up 0.7 %

Shares of NYSE EIX opened at $55.86 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $21.51 billion, a PE ratio of 16.38, a PEG ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a fifty day simple moving average of $57.02 and a 200-day simple moving average of $74.75.

Edison International (NYSE:EIX) last released 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). The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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 issued a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.93%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Edison International Company Profile

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.