Mufg Securities Americas Inc. Makes New $456,000 Investment in Edison International (NYSE:EIX)

Mufg Securities Americas Inc. bought a new stake in shares of Edison International (NYSE:EIX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,716 shares of the utilities provider’s stock, valued at approximately $456,000.

A number of other hedge funds also recently made changes to their positions in the business. Swedbank AB raised its position in Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after acquiring an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Edison International in the 4th quarter worth approximately $235,000. KBC Group NV lifted 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 valued at $4,898,000 after purchasing an additional 11,764 shares during the last quarter. abrdn plc grew its holdings in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Edison International by 3.3% in 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 buying an additional 76,654 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 2.2%

Shares of EIX stock opened at $57.60 on Friday. The company has a market capitalization of $22.16 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The business’s fifty day moving average is $56.76 and its 200 day moving average is $65.48. 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) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were paid a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.75%. Edison International’s dividend payout ratio is presently 46.95%.

Wall Street Analyst Weigh In

EIX has been the subject of several research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley restated an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus target price of $76.96.

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.