Vanguard Group Inc. Buys 1,559,501 Shares of Edison International (NYSE:EIX)

Vanguard Group Inc. boosted its position in shares of Edison International (NYSE:EIX) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,589,777 shares of the utilities provider’s stock after acquiring an additional 1,559,501 shares during the period. Vanguard Group Inc. owned approximately 0.13% of Edison International worth $3,879,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB grew its holdings in shares of Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after buying an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Edison International during the 4th quarter worth approximately $235,000. KBC Group NV raised its holdings in shares of Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after purchasing an additional 11,764 shares during the last quarter. abrdn plc lifted its position in shares of Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after purchasing an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $58.59 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.07 and a beta of 0.87. The stock’s fifty day moving average price is $55.27 and its two-hundred day moving average price is $73.20. Edison International has a one year low of $49.06 and a one year high of $88.77.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is currently 100.30%.

Analysts Set New Price Targets

EIX has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley increased their price target on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Barclays decreased their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

About Edison International

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.