Raiffeisen Bank International AG Buys Shares of 4,476 Edison International (NYSE:EIX)

Raiffeisen Bank International AG purchased a new stake in shares of Edison International (NYSE:EIX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,476 shares of the utilities provider’s stock, valued at approximately $356,000.

A number of other large investors have also made changes to their positions in EIX. Norges Bank purchased a new stake in Edison International during the fourth quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board grew its position in shares of Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock valued at $269,024,000 after acquiring an additional 2,643,571 shares during the period. Northern Trust Corp increased its stake in shares of Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock worth $223,057,000 after purchasing an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. lifted its position in Edison International by 3.3% during the fourth 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 in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a report on Wednesday, April 23rd. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Wells Fargo & Company decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.96.

Edison International Price Performance

EIX stock opened at $58.62 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company’s fifty day moving average price is $56.81 and its 200-day moving average price is $65.19. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a market capitalization of $22.55 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. On average, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were issued a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.65%. Edison International’s dividend payout ratio (DPR) is 46.95%.

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.