Edison International (NYSE:EIX) Holdings Raised by Swedbank AB

Swedbank AB grew its position in shares of Edison International (NYSE:EIX) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 506,819 shares of the utilities provider’s stock after purchasing an additional 60,182 shares during the quarter. Swedbank AB owned 0.13% of Edison International worth $44,139,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EIX. CreativeOne Wealth LLC acquired a new stake in shares of Edison International in the first quarter worth $230,000. Lazard Asset Management LLC increased its position in Edison International by 7.4% during the first quarter. Lazard Asset Management LLC now owns 11,841 shares of the utilities provider’s stock worth $836,000 after buying an additional 819 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Edison International by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 524,198 shares of the utilities provider’s stock worth $37,078,000 after purchasing an additional 3,834 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of Edison International by 3.8% in the first quarter. Mount Yale Investment Advisors LLC now owns 10,487 shares of the utilities provider’s stock worth $742,000 after buying an additional 387 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Edison International in the 1st quarter valued at $270,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. UBS Group upped their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 0.7 %

NYSE EIX opened at $86.48 on Monday. The stock’s 50 day simple moving average is $84.64 and its 200 day simple moving average is $80.17. 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 $63.15 and a one year high of $88.77. The firm has a market cap of $33.48 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast 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 was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

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.