Edison International (NYSE:EIX) Shares Acquired by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its position in Edison International (NYSE:EIX - Free Report) by 37.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,350 shares of the utilities provider's stock after purchasing an additional 8,280 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Edison International were worth $2,423,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Geode Capital Management LLC raised its position in Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock valued at $795,123,000 after purchasing an additional 362,999 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Edison International by 1.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider's stock valued at $409,865,000 after purchasing an additional 50,451 shares during the last quarter. Invesco Ltd. increased its position in shares of Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after purchasing an additional 1,331,941 shares during the last quarter. Finally, Norges Bank purchased a new stake in Edison International in the 4th quarter valued at about $323,443,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EIX. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Barclays reduced their price objective on Edison International from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Edison International has an average rating of "Moderate Buy" and an average target price of $76.75.

Edison International Price Performance

EIX stock traded up $0.14 during trading on Monday, hitting $58.10. The stock had a trading volume of 820,307 shares, compared to its average volume of 2,948,117. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The company's 50 day moving average price is $56.12 and its two-hundred day moving average price is $68.04. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Monday, April 7th. Edison International's payout ratio is currently 100.30%.

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.