Empowered Funds LLC Acquires 532 Shares of Edison International (NYSE:EIX)

Empowered Funds LLC grew its stake in shares of Edison International (NYSE:EIX) by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,392 shares of the utilities provider’s stock after acquiring an additional 532 shares during the period. Empowered Funds LLC’s holdings in Edison International were worth $557,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CreativeOne Wealth LLC purchased a new position in Edison International during the 1st quarter valued at about $230,000. Swedbank AB grew its stake in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Janus Henderson Group PLC grew its stake in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after acquiring an additional 102,000 shares in the last quarter. Cetera Investment Advisers increased its holdings in Edison International by 955.8% during the 1st quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after acquiring an additional 94,878 shares during the period. Finally, Baker Avenue Asset Management LP purchased a new stake in Edison International in the 3rd quarter worth approximately $2,291,000. 88.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. 1.03% of the stock is currently owned by corporate insiders.

Edison International Trading Down 0.7 %

Shares of EIX opened at $86.48 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The company’s fifty day moving average is $84.64 and its 200 day moving average is $80.17. The stock has a market capitalization of $33.48 billion, a PE ratio of 25.36, a P/E/G ratio of 2.08 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 analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during 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%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. Sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America started coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Argus raised 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 research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.