Aviva PLC Grows Stake in Edison International (NYSE:EIX)

Aviva PLC grew its holdings in shares of Edison International (NYSE:EIX) by 131.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 593,820 shares of the utilities provider’s stock after buying an additional 337,628 shares during the period. Aviva PLC owned 0.15% of Edison International worth $47,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Swedbank AB increased its position in Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Edison International during the fourth quarter valued at about $235,000. KBC Group NV raised its stake in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after buying an additional 11,764 shares in the last quarter. abrdn plc lifted its holdings in 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 buying an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after acquiring an additional 76,654 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 6.3 %

EIX stock opened at $54.71 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The business has a 50 day simple moving average of $54.84 and a two-hundred day simple moving average of $71.55. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho decreased their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Barclays reduced their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International 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.