Norges Bank Purchases Shares of 4,051,142 Edison International (NYSE:EIX)

Norges Bank acquired a new position in shares of Edison International (NYSE:EIX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,051,142 shares of the utilities provider’s stock, valued at approximately $323,443,000.

A number of other large investors have also made changes to their positions in EIX. Swedbank AB increased its stake in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after acquiring an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Edison International in the fourth quarter valued at $235,000. KBC Group NV lifted its position in Edison International by 23.7% in the fourth 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 boosted its stake in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after buying an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $192,955,000 after buying an additional 76,654 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Finally, Mizuho lowered their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Performance

Edison International stock opened at $58.20 on Friday. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a 50-day simple moving average of $55.00 and a 200 day simple moving average of $72.50.

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

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.69%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

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.