Healthcare of Ontario Pension Plan Trust Fund Reduces Position in Edison International $EIX

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Edison International (NYSE:EIX - Free Report) by 80.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,146 shares of the utilities provider's stock after selling 330,714 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Edison International were worth $5,865,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 10Elms LLP purchased a new stake in shares of Edison International during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its holdings in Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 281 shares during the period. Quest 10 Wealth Builders Inc. raised its holdings in Edison International by 866.7% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 702 shares during the period. DV Equities LLC purchased a new stake in shares of Edison International during the fourth quarter worth $52,000. Finally, McMillan Office Inc. bought a new position in shares of Edison International in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EIX. Barclays boosted their price objective on Edison International from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $62.00 target price on shares of Edison International in a report on Tuesday, April 21st. Morgan Stanley reiterated an "underweight" rating and set a $69.00 price target on shares of Edison International in a research report on Wednesday, July 22nd. Truist Financial cut their price objective on shares of Edison International from $82.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Finally, Seaport Research Partners cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $72.64.

Edison International Price Performance

Edison International stock opened at $78.68 on Thursday. Edison International has a 52 week low of $51.01 and a 52 week high of $81.62. The business has a 50-day simple moving average of $74.13 and a 200 day simple moving average of $70.87. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.28 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. On average, research analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International's dividend payout ratio is 38.11%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.