Massachusetts Financial Services Co. MA Boosts Stake in Edison International (NYSE:EIX)

Massachusetts Financial Services Co. MA increased its stake in shares of Edison International (NYSE:EIX) by 78.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,194,060 shares of the utilities provider’s stock after purchasing an additional 965,851 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Edison International were worth $165,476,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EIX. Price T Rowe Associates Inc. MD boosted its position in shares of Edison International by 111.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,763,168 shares of the utilities provider’s stock worth $590,725,000 after purchasing an additional 4,625,141 shares during the period. Bank of New York Mellon Corp boosted its position in Edison International by 87.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,420,925 shares of the utilities provider’s stock valued at $298,013,000 after buying an additional 2,059,350 shares during the period. Nuveen Asset Management LLC boosted its position in Edison International by 1,931.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,052,784 shares of the utilities provider’s stock valued at $138,377,000 after buying an additional 1,951,745 shares during the period. Steadfast Capital Management LP purchased a new position in Edison International in the 2nd quarter valued at approximately $90,266,000. Finally, Pictet Asset Management Ltd. boosted its position in Edison International by 62.9% in the 2nd quarter. Pictet Asset Management Ltd. now owns 2,504,575 shares of the utilities provider’s stock valued at $168,833,000 after buying an additional 966,848 shares during the period. 76.99% of the stock is owned by hedge funds and other institutional investors.

EIX stock traded up $1.63 on Wednesday, hitting $68.47. 108,893 shares of the company were exchanged, compared to its average volume of 2,589,153. Edison International has a twelve month low of $46.65 and a twelve month high of $76.45. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.78 and a quick ratio of 0.72. The business’s fifty day moving average is $70.40 and its two-hundred day moving average is $67.94. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.65 and a beta of 0.05.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.03). The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Equities research analysts expect that Edison International will post 4.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.613 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, September 27th. Edison International’s dividend payout ratio is 59.04%.

Several equities analysts have commented on EIX shares. Mizuho decreased their price target on shares of Edison International from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, October 18th. UBS Group raised their price target on shares of Edison International from $77.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Citigroup restated a “buy” rating and issued a $81.00 price objective (up from $78.00) on shares of Edison International in a report on Wednesday, September 18th. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a report on Friday, July 26th. Finally, ValuEngine lowered shares of Edison International from a “sell” rating to a “strong sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Edison International has a consensus rating of “Hold” and an average price target of $75.00.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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