Stablepoint Partners LLC Has $4.76 Million Stock Holdings in Edison International $EIX

Stablepoint Partners LLC boosted its position in Edison International (NYSE:EIX) by 17.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 86,174 shares of the utilities provider’s stock after acquiring an additional 12,755 shares during the period. Stablepoint Partners LLC’s holdings in Edison International were worth $4,764,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EIX. Nordea Investment Management AB lifted its position in shares of Edison International by 1.7% in the third quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock valued at $92,984,000 after buying an additional 28,586 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Edison International by 5.3% during the second quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock worth $18,809,000 after purchasing an additional 18,412 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Edison International in the second quarter valued at $456,000. iA Global Asset Management Inc. lifted its stake in shares of Edison International by 86.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 44,515 shares of the utilities provider’s stock worth $2,461,000 after buying an additional 20,691 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in Edison International by 237.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock valued at $98,276,000 after buying an additional 1,339,806 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Edison International Trading Up 1.5%

NYSE EIX opened at $61.66 on Tuesday. Edison International has a 12 month low of $47.73 and a 12 month high of $62.62. The business’s 50-day moving average price is $59.47 and its two-hundred day moving average price is $56.57. The firm has a market capitalization of $23.72 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the business earned $1.51 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. Edison International’s dividend payout ratio is 45.88%.

Analysts Set New Price Targets

EIX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of Edison International in a report on Friday, January 16th. TD Cowen initiated coverage on shares of Edison International in a research note on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.70.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.