Blueshift Asset Management LLC Makes New Investment in Edison International (NYSE:EIX)

Blueshift Asset Management LLC acquired a new stake in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,517 shares of the utilities provider’s stock, valued at approximately $655,000.

A number of other large investors also recently modified their holdings of EIX. Glenmede Trust Co. NA lifted its position in shares of Edison International by 5.5% in the third quarter. Glenmede Trust Co. NA now owns 7,668 shares of the utilities provider’s stock valued at $668,000 after acquiring an additional 400 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Edison International by 3.3% during the third quarter. Townsquare Capital LLC now owns 63,187 shares of the utilities provider’s stock worth $5,503,000 after purchasing an additional 2,009 shares in the last quarter. Brooklyn Investment Group bought a new stake in Edison International during the 3rd quarter valued at approximately $62,000. Quantbot Technologies LP lifted its holdings in Edison International by 19.4% in the 3rd quarter. Quantbot Technologies LP now owns 31,404 shares of the utilities provider’s stock worth $2,735,000 after purchasing an additional 5,105 shares in the last quarter. Finally, FMR LLC boosted its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $88.39 on Thursday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. 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 firm has a 50-day moving average price of $84.76 and a 200-day moving average price of $80.41. The firm has a market capitalization of $34.22 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. As a group, equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Analyst Upgrades and Downgrades

EIX has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley dropped their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays lifted their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Insiders own 1.20% 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.