Edison International (NYSE:EIX) Stake Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Edison International by 10.7%, owning 701,773 shares worth approximately $41.34 million at the end of the first quarter.
• Several institutional investors, including the Canada Pension Plan Investment Board, significantly boosted their positions in Edison International, reflecting strong institutional interest in the stock.
• Edison International's recent earnings report showed an EPS of $0.97, exceeding expectations, with a revenue increase of 4.8% year-over-year, and a quarterly dividend yield of 6.2%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Edison International (NYSE:EIX - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,773 shares of the utilities provider's stock after acquiring an additional 68,057 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Edison International worth $41,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its stake in Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after purchasing an additional 2,643,571 shares in the last quarter. Northern Trust Corp raised its position in shares of Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Edison International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after purchasing an additional 1,673,204 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Edison International by 1,946.0% in the first quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after purchasing an additional 1,194,088 shares during the period. Finally, Barclays PLC raised its holdings in shares of Edison International by 112.0% during the fourth quarter. Barclays PLC now owns 1,947,047 shares of the utilities provider's stock worth $155,453,000 after purchasing an additional 1,028,558 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Stock Down 2.2%

EIX opened at $53.75 on Friday. 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 has a market capitalization of $20.68 billion, a PE ratio of 7.89, a P/E/G ratio of 1.26 and a beta of 0.75. The stock's fifty day moving average is $51.79 and its 200-day moving average is $54.25. Edison International has a one year low of $47.73 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the previous year, the business earned $1.23 earnings per share. Edison International's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Analyst Ratings Changes

A number of equities research analysts recently 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 for the company in a research report on Wednesday, June 18th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Barclays upped their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Edison International has an average 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.

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