Edison International (NYSE:EIX) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV increased its position in Edison International by 261.0%, acquiring an additional 132,303 shares in the first quarter, now holding a total of 182,997 shares valued at approximately $10.78 million.
• Several other institutional investors also increased their stakes in Edison International, with 88.95% of the stock owned by such investors, highlighting significant institutional interest in the company.
• Edison International recently reported earnings of $0.97 per share, surpassing expectations, and declared a quarterly dividend of $0.8275 per share, translating to a 6.0% dividend yield.

ING Groep NV lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 261.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,997 shares of the utilities provider's stock after buying an additional 132,303 shares during the period. ING Groep NV's holdings in Edison International were worth $10,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its stake in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Edison International in the first quarter valued at approximately $25,000. Investment Management Corp VA ADV increased its holdings in shares of Edison International by 159.6% in the first 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 during the period. Bellwether Advisors LLC purchased a new stake in shares of Edison International during the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 433 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

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

Edison International Price Performance

Shares of EIX stock traded down $1.19 during midday trading on Friday, reaching $53.75. 4,797,551 shares of the company traded hands, compared to its average volume of 4,518,315. The firm's 50 day simple moving average is $51.83 and its two-hundred day simple moving average is $54.34. The firm has a market cap of $20.68 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. 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, topping analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. Edison International's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. On average, equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International's payout ratio is presently 48.60%.

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.