Banco Santander S.A. Has $12.53 Million Stock Position in Edison International (NYSE:EIX)

Key Points

• Banco Santander S.A. increased its stake in Edison International by 11.2% during Q1, owning a total of 212,723 shares valued at approximately $12.53 million.
• The stock currently has a consensus rating of "Moderate Buy", with an average price target of $76.35 set by analysts.
• Edison International recently announced a quarterly dividend of $0.8275 per share, yielding approximately 6.2%, with a payout ratio of 48.60%.

Banco Santander S.A. raised its position in shares of Edison International (NYSE:EIX - Free Report) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,723 shares of the utilities provider's stock after buying an additional 21,488 shares during the quarter. Banco Santander S.A. owned 0.06% of Edison International worth $12,534,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Edison International by 98.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after purchasing an additional 5,454 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new stake in shares of Edison International in the first quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock worth $7,297,000 after purchasing an additional 71,159 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after purchasing an additional 141,769 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Edison International by 17.2% during the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock valued at $6,324,000 after acquiring an additional 15,718 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE EIX traded down $0.45 during midday trading on Wednesday, reaching $54.84. 4,276,195 shares of the company traded hands, compared to its average volume of 4,509,106. The firm has a market cap of $21.10 billion, a PE ratio of 8.05, a PEG ratio of 1.30 and a beta of 0.75. The stock's 50-day simple moving average is $51.85 and its 200-day simple moving average is $54.39. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Thursday, July 31st. Investors 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 was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EIX. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays reaffirmed an "overweight" rating and set a $65.00 price objective (up previously from $64.00) on shares of Edison International in a research report on Monday. Morgan Stanley cut 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. JPMorgan Chase & Co. lowered their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. One 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 stock. According to data from MarketBeat.com, Edison International has an average rating of "Moderate Buy" and an average target price of $76.19.

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.