Continuum Advisory LLC Lowers Position in Edison International (NYSE:EIX)

Continuum Advisory LLC trimmed its position in shares of Edison International (NYSE:EIX) by 25.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,994 shares of the utilities provider’s stock after selling 1,681 shares during the quarter. Continuum Advisory LLC’s holdings in Edison International were worth $410,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares in the last quarter. FMR LLC increased its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. American Century Companies Inc. boosted its position in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after purchasing an additional 28,240 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Barclays increased their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Argus raised their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Down 0.3 %

Shares of EIX opened at $82.80 on Wednesday. Edison International has a 52-week low of $63.15 and a 52-week 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 fifty day simple moving average of $84.67 and a two-hundred day simple moving average of $80.99. The company has a market capitalization of $32.05 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

Edison International 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.