Entropy Technologies LP Buys 27,623 Shares of Edison International (NYSE:EIX)

Key Points

• Entropy Technologies LP increased its holdings in Edison International by 43.9%, owning 90,539 shares valued at approximately $5.34 million after acquiring an additional 27,623 shares in the first quarter.
• JPMorgan Chase & Co. boosted its holdings in Edison International by 111.6%, while other significant investors like Canada Pension Plan Investment Board and Allianz Asset Management GmbH also markedly increased their stakes.
• Edison International recently announced a quarterly dividend of $0.8275, which translates to an annual yield of 6.2%, with a dividend payout ratio of 48.6%.

Entropy Technologies LP increased its holdings in shares of Edison International (NYSE:EIX - Free Report) by 43.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,539 shares of the utilities provider's stock after purchasing an additional 27,623 shares during the period. Entropy Technologies LP's holdings in Edison International were worth $5,335,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock valued at $2,892,003,000 after acquiring an additional 493,778 shares during the period. Invesco Ltd. raised its holdings in shares of Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after purchasing an additional 953,897 shares during the period. Northern Trust Corp boosted 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 worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after buying an additional 2,987,318 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Edison International by 7.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock valued at $412,246,000 after buying an additional 371,043 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

EIX traded down $0.27 on Thursday, hitting $56.01. The company's stock had a trading volume of 830,708 shares, compared to its average volume of 4,466,720. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company's 50 day simple moving average is $51.82 and its 200-day simple moving average is $54.24. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $21.55 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.99% and a net margin of 16.00%. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Edison International's revenue was up 4.8% on a year-over-year basis. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.9%. Edison International's dividend payout ratio is 48.60%.

Wall Street Analyst Weigh In

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

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.