Worldquant Millennium Advisors LLC Buys 8,913 Shares of Edison International (NYSE:EIX)

Worldquant Millennium Advisors LLC increased its stake in Edison International (NYSE:EIX) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 446,980 shares of the utilities provider’s stock after acquiring an additional 8,913 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Edison International were worth $35,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Swedbank AB raised its holdings in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Edison International in the 4th quarter worth approximately $235,000. KBC Group NV raised its holdings in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after purchasing an additional 11,764 shares during the period. abrdn plc raised its holdings in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after purchasing an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.4%

EIX opened at $58.26 on Wednesday. The company has a fifty day moving average price of $56.91 and a 200-day moving average price of $64.86. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $49.06 and a one year high of $88.77.

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

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, April 7th. Edison International’s dividend payout ratio is presently 46.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EIX shares. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Morgan Stanley reiterated an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Mizuho reduced 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. Finally, Wells Fargo & Company reduced 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. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.89.

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.