Citigroup Inc. Acquires 165,124 Shares of Edison International (NYSE:EIX)

Citigroup Inc. grew its holdings in shares of Edison International (NYSE:EIX) by 41.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 566,133 shares of the utilities provider’s stock after purchasing an additional 165,124 shares during the period. Citigroup Inc.’s holdings in Edison International were worth $33,357,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC purchased a new position in Edison International during the first quarter valued at $322,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Edison International by 10.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 701,773 shares of the utilities provider’s stock worth $41,348,000 after acquiring an additional 68,057 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Edison International by 21.2% during the first quarter. Y.D. More Investments Ltd now owns 1,791 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 313 shares in the last quarter. Maryland State Retirement & Pension System raised its position in shares of Edison International by 1.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 346,113 shares of the utilities provider’s stock worth $20,393,000 after purchasing an additional 6,453 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Edison International in the 1st quarter worth about $276,000. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

NYSE EIX opened at $55.28 on Tuesday. The company has a 50-day moving average price of $51.79 and a 200-day moving average price of $54.21. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $21.27 billion, a P/E ratio of 8.12, a PEG ratio of 1.26 and a beta of 0.75.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities research analysts anticipate 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 was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EIX. Morgan Stanley cut their price objective on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 18th. Evercore ISI reiterated an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Barclays upped their price objective on Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.19.

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.