Ontario Teachers Pension Plan Board Grows Position in Edison International (NYSE:EIX)

Key Points

• Ontario Teachers Pension Plan Board increased its holdings in Edison International by 64.6%, acquiring an additional 33,718 shares to reach a total of 85,883 shares valued at approximately $5.06 million.
• Multiple institutional investors have also boosted their stakes in Edison International, leading to a total of 88.95% of shares being held by institutional investors and hedge funds.
• Analysts have mixed ratings on Edison International, with a consensus target price of $76.19 and a general rating of "Moderate Buy," reflecting varied confidence among financial experts.

Ontario Teachers Pension Plan Board grew its position in Edison International (NYSE:EIX - Free Report) by 64.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,883 shares of the utilities provider's stock after buying an additional 33,718 shares during the period. Ontario Teachers Pension Plan Board's holdings in Edison International were worth $5,060,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EIX. Charles Schwab Investment Management Inc. grew its stake in shares of Edison International by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider's stock worth $150,961,000 after acquiring an additional 145,358 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in shares of Edison International during the first quarter worth about $9,634,000. Vanguard Group Inc. grew its stake in shares of Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock worth $2,892,003,000 after acquiring an additional 493,778 shares during the last quarter. Twin City Private Wealth LLC grew its stake in shares of Edison International by 40.4% during the first quarter. Twin City Private Wealth LLC now owns 22,716 shares of the utilities provider's stock worth $1,338,000 after acquiring an additional 6,534 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its stake in shares of Edison International by 22.7% during the first quarter. New Age Alpha Advisors LLC now owns 35,758 shares of the utilities provider's stock worth $2,107,000 after acquiring an additional 6,620 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Morgan Stanley dropped their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Barclays upped their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.19.

Edison International Price Performance

Shares of EIX stock traded up $1.42 during trading hours on Monday, hitting $55.19. 1,225,784 shares of the company's stock were exchanged, compared to its average volume of 4,496,173. 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 $21.24 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.26 and a beta of 0.75. The firm has a 50 day moving average of $51.79 and a two-hundred day moving average of $54.23. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is presently 48.60%.

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.