Meiji Yasuda Asset Management Co Ltd. Acquires 2,699 Shares of Edison International (NYSE:EIX)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Edison International (NYSE:EIX) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,109 shares of the utilities provider’s stock after buying an additional 2,699 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Edison International were worth $15,258,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. CoreFirst Bank & Trust acquired a new position in Edison International during the fourth quarter worth about $59,000. Crowley Wealth Management Inc. bought a new position in Edison International in the 4th quarter valued at approximately $104,000. Vanguard Group Inc. lifted its stake 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. Stevens Capital Management LP acquired a new stake in Edison International in the fourth quarter valued at approximately $429,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Edison International during the fourth quarter worth $1,490,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

EIX stock opened at $58.59 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.07 and a beta of 0.87. The company’s fifty day simple moving average is $55.27 and its 200 day simple moving average is $73.20. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data 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 net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.65%. Edison International’s payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Mizuho dropped their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.