Healthcare of Ontario Pension Plan Trust Fund Acquires New Shares in Edison International (NYSE:EIX)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,518 shares of the utilities provider’s stock, valued at approximately $132,000.

Other large investors have also modified their holdings of the company. FMR LLC boosted its stake in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the period. abrdn plc raised its position in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after buying an additional 272,876 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at $18,484,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX opened at $85.78 on Tuesday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The firm has a market capitalization of $33.21 billion, a P/E ratio of 25.16, a P/E/G ratio of 2.10 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company’s fifty day moving average price is $84.88 and its 200 day moving average price is $80.70.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. As a group, sell-side analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Barclays raised their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.03% of the company’s stock.

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.