OMERS ADMINISTRATION Corp Has $4.19 Million Holdings in Edison International $EIX

OMERS ADMINISTRATION Corp raised its position in shares of Edison International (NYSE:EIX) by 16.3% in the first quarter, HoldingsChannel reports. The fund owned 57,229 shares of the utilities provider’s stock after acquiring an additional 8,033 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Edison International were worth $4,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA bought a new position in shares of Edison International during the first quarter worth approximately $1,115,000. Waverly Advisors LLC lifted its holdings in Edison International by 44.5% during the 1st quarter. Waverly Advisors LLC now owns 23,827 shares of the utilities provider’s stock worth $1,744,000 after purchasing an additional 7,337 shares during the last quarter. Morningstar Investment Management LLC boosted its stake in Edison International by 7.4% in the 1st quarter. Morningstar Investment Management LLC now owns 67,602 shares of the utilities provider’s stock valued at $4,947,000 after purchasing an additional 4,656 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Edison International by 5.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 134,056 shares of the utilities provider’s stock valued at $9,810,000 after purchasing an additional 6,358 shares during the period. Finally, Compound Planning Inc. grew its holdings in Edison International by 16.7% in the 1st quarter. Compound Planning Inc. now owns 5,736 shares of the utilities provider’s stock valued at $420,000 after buying an additional 821 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $78.64 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 6.20 and a beta of 0.66. The firm’s 50 day simple moving average is $73.76 and its 200 day simple moving average is $70.58. Edison International has a 1 year low of $51.01 and a 1 year high of $80.90.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.5%. Edison International’s payout ratio is 38.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EIX. Wells Fargo & Company reiterated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Morgan Stanley reissued an “underweight” rating and issued a $69.00 target price on shares of Edison International in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Edison International in a research note on Monday, July 13th. Bank of America lowered their price target on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Truist Financial dropped their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.64.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.