Korea Investment CORP Has $26.07 Million Stock Position in Edison International (NYSE:EIX)

Korea Investment CORP grew its stake in Edison International (NYSE:EIX) by 79.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 326,510 shares of the utilities provider’s stock after buying an additional 144,858 shares during the quarter. Korea Investment CORP’s holdings in Edison International were worth $26,069,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Edison International in the fourth quarter valued at about $39,344,000. AustralianSuper Pty Ltd bought a new stake in shares of Edison International in the fourth quarter valued at about $31,877,000. Victory Capital Management Inc. boosted its position in shares of Edison International by 74.6% during the fourth quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after buying an additional 387,215 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Edison International during the fourth quarter worth about $23,503,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 1.6 %

EIX stock opened at $58.20 on Friday. Edison International has a one year low of $49.06 and a one year high of $88.77. The stock has a market cap of $22.41 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a fifty day moving average price of $55.00 and a two-hundred day moving average price of $72.59. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.69%. Edison International’s payout ratio is currently 100.30%.

Analyst Ratings Changes

EIX has been the topic of several research reports. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. 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. Finally, Barclays lowered their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.82.

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.