Edison International (NYSE:EIX) Shares Bought by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in Edison International by 31.5%, now holding approximately 220,900 shares valued at $13,015,000.
• The company reported earnings of $0.97 EPS for the last quarter, surpassing analysts' expectations and showing a revenue increase of 4.8% compared to the previous year.
• Edison International announced a quarterly dividend of $0.8275 per share, which translates to an annual yield of 6.2%, reflecting a dividend payout ratio of 48.60%.

Forsta AP Fonden grew its position in shares of Edison International (NYSE:EIX - Free Report) by 31.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,900 shares of the utilities provider's stock after acquiring an additional 52,900 shares during the quarter. Forsta AP Fonden owned about 0.06% of Edison International worth $13,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in Edison International by 41.2% during the first quarter. Citigroup Inc. now owns 566,133 shares of the utilities provider's stock worth $33,357,000 after acquiring an additional 165,124 shares during the last quarter. LaSalle St. Investment Advisors LLC acquired a new stake in Edison International during the first quarter worth about $322,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Edison International by 10.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 701,773 shares of the utilities provider's stock worth $41,348,000 after acquiring an additional 68,057 shares during the last quarter. Y.D. More Investments Ltd increased its stake in Edison International by 21.2% during the first quarter. Y.D. More Investments Ltd now owns 1,791 shares of the utilities provider's stock worth $106,000 after acquiring an additional 313 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of Edison International by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 346,113 shares of the utilities provider's stock valued at $20,393,000 after buying an additional 6,453 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of Edison International stock traded down $1.19 on Friday, reaching $53.75. 4,797,568 shares of the company were exchanged, compared to its average volume of 3,894,889. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The company's 50-day moving average is $51.79 and its two-hundred day moving average is $54.23. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 1.26 and a beta of 0.75. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

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

Edison International Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Morgan Stanley lowered their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Finally, Barclays increased their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.19.

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.