National Bank of Canada FI Increases Stock Position in Edison International (NYSE:EIX)

National Bank of Canada FI increased its position in shares of Edison International (NYSE:EIX) by 207.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,939 shares of the utilities provider’s stock after buying an additional 471,968 shares during the period. National Bank of Canada FI owned about 0.18% of Edison International worth $55,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Edison International during the fourth quarter worth about $25,000. Groupama Asset Managment increased its holdings in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Edison International in the 4th quarter valued at approximately $33,000. ST Germain D J Co. Inc. boosted its stake in shares of Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in shares of Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

EIX opened at $58.76 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The business’s 50 day moving average is $54.86 and its 200-day moving average is $72.05. The stock has a market cap of $22.62 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid 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 5.63%. Edison International’s payout ratio is 100.30%.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of research analyst reports. Barclays reduced their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company decreased their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, Mizuho decreased their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

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.