APG Asset Management N.V. Acquires New Shares in Edison International (NYSE:EIX)

APG Asset Management N.V. acquired a new stake in shares of Edison International (NYSE:EIX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 207,700 shares of the utilities provider’s stock, valued at approximately $16,014,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC raised its stake in shares of Edison International by 14.8% during the 4th quarter. Advisory Services Network LLC now owns 3,396 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 438 shares during the period. Bank of Nova Scotia increased its stake in Edison International by 390.8% in the 4th quarter. Bank of Nova Scotia now owns 242,233 shares of the utilities provider’s stock worth $19,340,000 after acquiring an additional 192,882 shares during the last quarter. Invesco Ltd. increased its stake in Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock worth $384,560,000 after acquiring an additional 1,331,941 shares during the last quarter. Bank of Montreal Can increased its stake in Edison International by 4.5% in the 4th quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider’s stock worth $60,018,000 after acquiring an additional 32,317 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Edison International by 5,334.4% in the 4th quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider’s stock worth $21,291,000 after acquiring an additional 261,761 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EIX shares. Wells Fargo & Company decreased their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley increased their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Barclays reduced their price objective on Edison International from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.75.

Edison International Trading Up 7.0 %

NYSE EIX opened at $56.15 on Thursday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. 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 stock has a 50 day simple moving average of $54.71 and a two-hundred day simple moving average of $70.57. The stock has a market cap of $21.62 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is presently 100.30%.

Edison International Company 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.