Edison International (NYSE:EIX) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in shares of Edison International (NYSE:EIX) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,004 shares of the utilities provider’s stock after buying an additional 294 shares during the period. Park Avenue Securities LLC’s holdings in Edison International were worth $240,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted 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 acquiring an additional 224,337 shares during the period. FMR LLC increased its holdings 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. Geode Capital Management LLC lifted its stake in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the period. Clearbridge Investments LLC grew its position in Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after buying an additional 28,240 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research reports. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Performance

NYSE:EIX opened at $58.71 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $22.73 billion, a PE ratio of 17.22, a P/E/G ratio of 1.20 and a beta of 0.93. The firm has a 50 day simple moving average of $77.19 and a 200-day simple moving average of $80.86. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.38 EPS. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.64%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.03% of the stock is owned by company 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.