ASR Vermogensbeheer N.V. Invests $9.63 Million in Edison International (NYSE:EIX)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Edison International, purchasing 163,515 shares valued at approximately $9,634,000.
• Edison International reported earnings of $0.97 EPS for the last quarter, exceeding analysts' expectations of $0.88, with revenue up 4.8% year-over-year.
• The company recently announced a quarterly dividend of $0.8275 per share, representing an annualized yield of 6.0%.

ASR Vermogensbeheer N.V. purchased a new stake in Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 163,515 shares of the utilities provider's stock, valued at approximately $9,634,000.

A number of other large investors have also modified their holdings of EIX. Rakuten Securities Inc. increased its stake in Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in Edison International in the first quarter worth about $25,000. Investment Management Corp VA ADV boosted its stake in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. Bellwether Advisors LLC acquired a new position in Edison International during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc boosted its holdings in Edison International by 96.7% during the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after buying an additional 433 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

NYSE:EIX traded up $1.46 during trading hours on Monday, hitting $55.23. The company's stock had a trading volume of 1,052,902 shares, compared to its average volume of 4,494,300. The stock has a fifty day simple moving average of $51.79 and a 200-day simple moving average of $54.23. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market capitalization of $21.25 billion, a P/E ratio of 8.11, a PEG ratio of 1.26 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. On average, analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Barclays lifted their target price on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.19.

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.