Royal Bank of Canada Grows Stake in Edison International (NYSE:EIX)

Royal Bank of Canada grew its position in Edison International (NYSE:EIX) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 717,576 shares of the utilities provider’s stock after purchasing an additional 16,876 shares during the quarter. Royal Bank of Canada’s holdings in Edison International were worth $57,290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Barclays PLC grew its holdings in Edison International by 16.9% in the third quarter. Barclays PLC now owns 918,489 shares of the utilities provider’s stock worth $79,991,000 after purchasing an additional 132,749 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Edison International by 119.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 30,014 shares of the utilities provider’s stock worth $2,396,000 after buying an additional 16,362 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Edison International by 10.8% during the fourth quarter. Park Avenue Securities LLC now owns 3,004 shares of the utilities provider’s stock worth $240,000 after buying an additional 294 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International during the fourth quarter worth $235,000. Finally, HB Wealth Management LLC lifted its stake in shares of Edison International by 9.3% during the fourth quarter. HB Wealth Management LLC now owns 5,190 shares of the utilities provider’s stock worth $414,000 after buying an additional 443 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EIX. Wells Fargo & Company lowered 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 note on Friday, February 28th. Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Barclays lifted their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Finally, Evercore ISI restated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Trading Up 0.4%

Shares of Edison International stock opened at $58.26 on Wednesday. The firm has a 50-day simple moving average of $56.91 and a two-hundred day simple moving average of $64.86. The company has a market cap of $22.42 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. 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.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.68%. Edison International’s dividend payout ratio (DPR) is currently 46.95%.

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.