Royal Bank of Canada Purchases 16,876 Shares of Edison International (NYSE:EIX)

Royal Bank of Canada boosted its position in Edison International (NYSE:EIX) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 717,576 shares of the utilities provider’s stock after purchasing an additional 16,876 shares during the period. Royal Bank of Canada owned approximately 0.19% of Edison International worth $57,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its stake 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 purchasing an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Edison International in the fourth quarter worth about $235,000. KBC Group NV raised its stake in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc raised its stake in shares of 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 acquiring an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Edison International by 3.3% during the fourth 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 Stock Performance

Shares of EIX stock opened at $58.26 on Wednesday. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.07 and a beta of 0.77. The company’s 50 day moving average is $56.91 and its 200 day moving average is $64.86. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates 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 was down 6.5% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. On average, sell-side 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 was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, April 7th. Edison International’s dividend payout ratio is currently 46.95%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.89.

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.