Edgestream Partners L.P. Raises Stake in Edison International (NYSE:EIX)

Edgestream Partners L.P. increased its stake in shares of Edison International (NYSE:EIX) by 102.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,114 shares of the utilities provider’s stock after purchasing an additional 19,303 shares during the period. Edgestream Partners L.P.’s holdings in Edison International were worth $3,319,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Clearbridge Investments LLC increased its stake 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 acquiring an additional 24,834 shares during the last quarter. American Century Companies Inc. increased its stake in Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Edison International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after acquiring an additional 28,240 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Edison International by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after acquiring an additional 190,026 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EIX shares. Morgan Stanley decreased their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on 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 accessible through this hyperlink. 1.03% of the stock is owned by company insiders.

Edison International Trading Down 0.7 %

EIX opened at $87.75 on Monday. The stock has a market cap of $33.97 billion, a PE ratio of 25.73, a PEG ratio of 2.10 and a beta of 0.92. 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 business has a 50 day moving average of $84.89 and a 200-day moving average of $80.63. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. Equities research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 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.