Edison International $EIX Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its position in Edison International (NYSE:EIX) by 18.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,800 shares of the utilities provider’s stock after purchasing an additional 13,500 shares during the quarter. Intact Investment Management Inc.’s holdings in Edison International were worth $4,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Edison International by 4.9% during the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after acquiring an additional 407,039 shares in the last quarter. AQR Capital Management LLC raised its stake in Edison International by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares in the last quarter. Invesco Ltd. boosted its position in Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after acquiring an additional 621,924 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Edison International by 11.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock worth $288,599,000 after purchasing an additional 562,991 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE EIX opened at $61.66 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. Edison International has a 1 year low of $47.73 and a 1 year high of $62.62. The company has a market cap of $23.72 billion, a PE ratio of 8.06, a PEG ratio of 0.89 and a beta of 0.83. The stock’s 50-day moving average price is $59.47 and its two-hundred day moving average price is $56.57.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm posted $1.51 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. Edison International’s dividend payout ratio is currently 45.88%.

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EIX. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Jefferies Financial Group increased their price objective on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $56.00 to $59.00 in a report on Tuesday, January 20th. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Wall Street Zen upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $63.70.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.