KBC Group NV Has $4.90 Million Holdings in Edison International (NYSE:EIX)

KBC Group NV raised its stake in Edison International (NYSE:EIX) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,342 shares of the utilities provider’s stock after buying an additional 11,764 shares during the quarter. KBC Group NV’s holdings in Edison International were worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at about $26,000. Eastern Bank acquired a new position in Edison International during the third quarter valued at approximately $27,000. Larson Financial Group LLC increased its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Edison International in the third quarter worth $32,000. Finally, Concord Wealth Partners boosted its position in shares of Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on EIX shares. Barclays decreased their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley dropped their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. UBS Group reduced their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Performance

EIX opened at $53.94 on Friday. The business’s 50-day simple moving average is $75.46 and its 200 day simple moving average is $80.56. Edison International has a 52-week low of $53.52 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $20.88 billion, a PE ratio of 15.82, a PEG ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the business posted $1.38 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.14%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Edison International Company Profile

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.