Old Port Advisors Grows Stock Position in Edison International (NYSE:EIX)

Old Port Advisors boosted its stake in shares of Edison International (NYSE:EIX) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,292 shares of the utilities provider’s stock after purchasing an additional 180 shares during the quarter. Old Port Advisors’ holdings in Edison International were worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Edison International by 4.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 22,846 shares of the utilities provider’s stock worth $1,641,000 after buying an additional 879 shares during the period. TIAA Trust National Association raised its holdings in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Edison International by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,014 shares of the utilities provider’s stock worth $2,371,000 after purchasing an additional 209 shares during the last quarter. Founders Financial Securities LLC lifted its position in shares of Edison International by 4.0% during the 2nd quarter. Founders Financial Securities LLC now owns 10,741 shares of the utilities provider’s stock worth $771,000 after purchasing an additional 415 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its stake in shares of Edison International by 5.5% during the second quarter. Foundations Investment Advisors LLC now owns 8,659 shares of the utilities provider’s stock worth $622,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Edison International stock traded up $0.21 during midday trading on Thursday, hitting $80.05. 216,176 shares of the company’s stock were exchanged, compared to its average volume of 2,032,660. The firm’s 50 day simple moving average is $82.95 and its 200 day simple moving average is $81.63. Edison International has a 12-month low of $63.15 and a 12-month 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 stock has a market cap of $30.99 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings results 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. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Equities research analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EIX. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. UBS Group decreased their target price on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley cut their price objective 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. Finally, Barclays upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $91.00 to $84.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.03% of the company’s stock.

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.