Edison International (NYSE:EIX) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Edison International by 42.9% in the first quarter, owning 143,553 shares valued at approximately $8.46 million.
• Edison International reported a Q2 EPS of $0.97, exceeding the consensus estimate of $0.88, with revenues increasing 4.8% year-over-year to $4.54 billion.
• The company declared a quarterly dividend of $0.8275 per share, resulting in an annualized dividend yield of 6.0%.

Public Sector Pension Investment Board increased its position in shares of Edison International (NYSE:EIX - Free Report) by 42.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,553 shares of the utilities provider's stock after buying an additional 43,126 shares during the period. Public Sector Pension Investment Board's holdings in Edison International were worth $8,458,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EIX. Advisory Services Network LLC boosted its holdings in Edison International by 14.8% during the fourth quarter. Advisory Services Network LLC now owns 3,396 shares of the utilities provider's stock worth $271,000 after buying an additional 438 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Edison International during the fourth quarter worth $212,000. Mariner LLC boosted its holdings in Edison International by 36.5% during the fourth quarter. Mariner LLC now owns 64,768 shares of the utilities provider's stock worth $5,171,000 after buying an additional 17,312 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Edison International during the fourth quarter worth $299,000. Finally, NewEdge Advisors LLC boosted its holdings in Edison International by 4.4% during the fourth quarter. NewEdge Advisors LLC now owns 61,820 shares of the utilities provider's stock worth $4,936,000 after buying an additional 2,610 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, Barclays increased their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of "Moderate Buy" and an average price target of $75.21.

Edison International Price Performance

Shares of NYSE EIX traded down $0.51 during mid-day trading on Friday, reaching $55.51. The company's stock had a trading volume of 2,146,547 shares, compared to its average volume of 3,800,672. The stock has a 50-day moving average of $51.91 and a two-hundred day moving average of $54.21. The stock has a market capitalization of $21.36 billion, a P/E ratio of 8.15, a P/E/G 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. 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 issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed 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 6.0%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) 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.