Ontario Teachers Pension Plan Board Raises Stock Holdings 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 lifted its stake in Edison International (NYSE:EIX - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,883 shares of the utilities provider's stock after acquiring 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.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its position in shares of Edison International by 4,633.3% in 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 in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International in the 1st quarter worth $25,000. Investment Management Corp VA ADV raised its position in shares of Edison International by 159.6% in 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 in the last quarter. Bellwether Advisors LLC acquired a new position in Edison International during the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc increased its position in Edison International by 96.7% during the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock valued at $52,000 after buying an additional 433 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

EIX stock traded down $1.19 during trading on Friday, hitting $53.75. 4,797,568 shares of the company traded hands, compared to its average volume of 3,802,409. The stock's 50-day simple moving average is $51.79 and its 200 day simple moving average is $54.28. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market cap of $20.68 billion, a PE ratio of 7.89, a P/E/G ratio of 1.29 and a beta of 0.75. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. Edison International's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $1.23 earnings per share. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EIX. 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 research report on Monday, May 19th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. 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. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Morgan Stanley reduced 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Edison International has a consensus rating of "Moderate Buy" and a consensus price target of $76.19.

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.