MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.09 Million Stake in Edison International (NYSE:EIX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Edison International (NYSE:EIX) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 63,807 shares of the utilities provider’s stock after purchasing an additional 17,044 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Edison International were worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Swedbank AB boosted its position in 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 purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International during the 4th quarter worth about $235,000. KBC Group NV lifted its stake in shares of Edison International by 23.7% during the 4th 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 during the last quarter. abrdn plc boosted its holdings in shares of Edison International by 19.5% during the 4th 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. grew its stake in Edison International by 3.3% in 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 buying an additional 76,654 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the subject of several research reports. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Finally, Mizuho dropped their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.96.

Edison International Stock Performance

EIX opened at $58.62 on Monday. 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 has a 52-week low of $49.06 and a 52-week high of $88.77. The firm has a market cap of $22.55 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The business’s fifty day moving average is $56.81 and its 200-day moving average is $65.07.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts expect 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 was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were given a dividend of $0.8275 per share. 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 is 46.95%.

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.