Impax Asset Management Group plc Purchases 35,573 Shares of Edison International (NYSE:EIX)

Impax Asset Management Group plc lifted its stake in shares of Edison International (NYSE:EIX - Free Report) by 25.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,276 shares of the utilities provider's stock after purchasing an additional 35,573 shares during the quarter. Impax Asset Management Group plc's holdings in Edison International were worth $10,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its holdings in shares of Edison International by 98.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after purchasing an additional 5,454 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in Edison International during the 1st quarter worth approximately $1,151,000. Wealth Enhancement Advisory Services LLC grew its holdings in Edison International by 135.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock worth $7,297,000 after acquiring an additional 71,159 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after purchasing an additional 141,769 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Edison International by 17.2% in the first quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock worth $6,324,000 after purchasing an additional 15,718 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on EIX shares. Morgan Stanley reduced their price objective 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 lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays upped their price target on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. reduced their target price 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 given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.82.

Edison International Trading Up 0.0%

Shares of Edison International stock traded up $0.01 on Friday, reaching $52.57. 2,920,079 shares of the company's stock were exchanged, compared to its average volume of 3,322,506. The company has a market capitalization of $20.23 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The firm's 50-day moving average is $53.90 and its two-hundred day moving average is $57.69. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96.

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 the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.30%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.