Edison International (NYSE:EIX) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of Edison International (NYSE:EIX) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,406 shares of the utilities provider’s stock after acquiring an additional 524 shares during the period. Nisa Investment Advisors LLC’s holdings in Edison International were worth $2,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its stake 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 buying an additional 1,741,835 shares during the last quarter. abrdn plc grew its stake in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the last quarter. State Street Corp grew its stake in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Up 2.5 %

NYSE EIX opened at $58.71 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average is $77.19 and its two-hundred day moving average is $80.92. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.20 and a beta of 0.93. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating 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 return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. Equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Barclays decreased their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday. Morgan Stanley decreased their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s 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 document filed with the SEC, which is accessible through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

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.