Edison International (NYSE:EIX) Position Increased by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in shares of Edison International (NYSE:EIX) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,062 shares of the utilities provider’s stock after purchasing an additional 3,595 shares during the period. iA Global Asset Management Inc.’s holdings in Edison International were worth $1,203,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EIX. OneDigital Investment Advisors LLC increased its stake in Edison International by 7.3% during the third quarter. OneDigital Investment Advisors LLC now owns 3,884 shares of the utilities provider’s stock valued at $338,000 after purchasing an additional 263 shares during the last quarter. Empowered Funds LLC grew its position in shares of Edison International by 9.1% during the third quarter. Empowered Funds LLC now owns 6,392 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 532 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Edison International by 15.4% during the third quarter. Thrivent Financial for Lutherans now owns 23,095 shares of the utilities provider’s stock worth $2,011,000 after acquiring an additional 3,078 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the third quarter worth about $1,387,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Edison International by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock worth $4,666,000 after acquiring an additional 3,311 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $58.32 on Friday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. 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 company has a market capitalization of $22.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. The firm has a 50-day moving average of $55.24 and a two-hundred day moving average of $73.60.

Edison International (NYSE:EIX) last issued 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 net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. As a group, analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed 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. This represents a $3.31 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EIX shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. Mizuho lowered their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Barclays reduced their price objective 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 upped their price objective on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International 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.