Edison International (NYSE:EIX) Shares Purchased by Southland Equity Partners LLC

Southland Equity Partners LLC boosted its position in shares of Edison International (NYSE:EIX) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 16,318 shares of the utilities provider’s stock after acquiring an additional 3,714 shares during the quarter. Southland Equity Partners LLC’s holdings in Edison International were worth $1,303,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EIX. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Edison International during the fourth quarter worth $235,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Edison International during the 3rd quarter worth about $1,387,000. CHURCHILL MANAGEMENT Corp raised its stake in shares of Edison International by 6.6% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock valued at $6,460,000 after buying an additional 5,011 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of Edison International by 54.7% in the 4th quarter. Ameritas Advisory Services LLC now owns 27,200 shares of the utilities provider’s stock valued at $2,172,000 after buying an additional 9,612 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Edison International by 5.2% in the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock worth $26,973,000 after buying an additional 15,181 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on EIX. Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley cut their target price 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 lowered their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group cut their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Price Performance

NYSE:EIX opened at $57.10 on Friday. The stock has a 50 day moving average of $78.19 and a two-hundred day moving average of $81.12. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77. The firm has a market cap of $22.11 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter 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. On average, analysts expect 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 given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. Edison International’s payout ratio is presently 97.07%.

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.