Edison International (NYSE:EIX) Stock Holdings Increased by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in shares of Edison International (NYSE:EIX) by 9,435.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 80,100 shares of the utilities provider’s stock after purchasing an additional 79,260 shares during the period. Intact Investment Management Inc.’s holdings in Edison International were worth $6,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Edison International during the fourth quarter valued at approximately $235,000. KBC Group NV raised its position in Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc raised its position in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.7 %

EIX opened at $55.86 on Friday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. 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’s fifty day moving average price is $57.02 and its two-hundred day moving average price is $74.75. The company has a market capitalization of $21.51 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.07 and a beta of 0.87.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend 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 is currently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent analyst reports. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Barclays dropped their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Finally, Morgan Stanley dropped 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 report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.