Edison International (NYSE:EIX) Stake Lifted by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in Edison International (NYSE:EIX - Free Report) by 16.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 210,362 shares of the utilities provider's stock after buying an additional 29,446 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Edison International worth $16,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EIX. Norges Bank bought a new stake in Edison International in the 4th quarter valued at about $323,443,000. Canada Pension Plan Investment Board increased its stake in shares of 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 valued at $269,024,000 after purchasing an additional 2,643,571 shares during the period. Northern Trust Corp raised its holdings in shares of Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after buying an additional 2,016,017 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 buying an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Price Performance

NYSE EIX opened at $57.92 on Tuesday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The business's fifty day moving average is $56.86 and its two-hundred day moving average is $64.90. The stock has a market capitalization of $22.29 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the firm posted $1.13 EPS. The company's quarterly revenue was down 6.5% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Monday, April 7th. Edison International's dividend payout ratio (DPR) is currently 46.95%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research report on Wednesday, April 23rd. Finally, Mizuho reduced their price target on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Edison International currently has an average rating of "Moderate Buy" and a consensus target price of $76.89.

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.

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