Healthcare of Ontario Pension Plan Trust Fund Cuts Position in Edison International $EIX

Healthcare of Ontario Pension Plan Trust Fund lessened its position in Edison International (NYSE:EIX) by 80.5% during the first quarter, Holdings Channel reports. The fund owned 80,146 shares of the utilities provider’s stock after selling 330,714 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Edison International were worth $5,865,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Edison International by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,346,201 shares of the utilities provider’s stock valued at $260,859,000 after purchasing an additional 220,785 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Edison International by 41.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider’s stock worth $329,924,000 after purchasing an additional 1,609,847 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in Edison International by 128.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 23,765 shares of the utilities provider’s stock valued at $1,444,000 after buying an additional 13,375 shares during the period. Pinebridge Investments LLC purchased a new stake in Edison International during the fourth quarter valued at about $46,548,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Edison International during the first quarter valued at about $1,503,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $78.68 on Thursday. The business’s fifty day moving average is $74.13 and its 200 day moving average is $70.87. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.28 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. Edison International has a twelve month low of $51.01 and a twelve month high of $81.62.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 38.11%.

Wall Street Analyst Weigh In

EIX has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Bank of America reduced their price target on Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $69.00 price target on shares of Edison International in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Edison International in a research note on Monday, July 13th. Finally, Barclays raised their target price on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.64.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.