National Pension Service Has $35.80 Million Position in Edison International $EIX

Key Points

• The National Pension Service increased its stake in Edison International by 16.8% to a total of 607,513 shares, valued at approximately $35.80 million.
• Edison International reported earnings of $0.97 per share for the last quarter, exceeding the consensus estimate of $0.88 and showing a revenue increase of 4.8% year-over-year.
• The company declared a quarterly dividend of $0.8275 per share, equating to an annualized yield of 6.0%, with a payout ratio of 48.60%.

National Pension Service lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 16.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 607,513 shares of the utilities provider's stock after acquiring an additional 87,199 shares during the period. National Pension Service owned approximately 0.16% of Edison International worth $35,795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIX. Rakuten Securities Inc. lifted its holdings in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International during the 1st quarter worth about $25,000. Investment Management Corp VA ADV lifted its holdings in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after acquiring an additional 265 shares during the period. Bellwether Advisors LLC bought a new position in shares of Edison International during the 4th quarter worth about $34,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Edison International during the 1st quarter worth about $35,000. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

Shares of NYSE EIX traded up $0.17 during trading on Monday, reaching $55.67. The company had a trading volume of 1,856,849 shares, compared to its average volume of 3,758,230. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The stock has a market cap of $21.42 billion, a PE ratio of 8.17, a PEG ratio of 1.31 and a beta of 0.75. 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 business's 50 day moving average price is $52.04 and its 200-day moving average price is $54.22.

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 company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Edison International's revenue was up 4.8% on a year-over-year basis. Analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on EIX shares. Barclays raised their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley cut their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. cut their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. 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's stock. According to MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $75.21.

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.