Stablepoint Partners LLC Grows Position in Edison International $EIX

Stablepoint Partners LLC grew its stake in Edison International (NYSE:EIX) by 17.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,174 shares of the utilities provider’s stock after acquiring an additional 12,755 shares during the quarter. Stablepoint Partners LLC’s holdings in Edison International were worth $4,764,000 as of its most recent SEC filing.

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

Edison International Stock Up 1.5%

Shares of NYSE EIX opened at $61.66 on Tuesday. The firm’s 50-day moving average is $59.47 and its 200-day moving average is $56.57. 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 has a 1 year low of $47.73 and a 1 year high of $62.62. 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.

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

Edison International Increases Dividend

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

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Zacks Research cut shares of Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. LADENBURG THALM/SH SH upped their price objective on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.70.

Edison International Company 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.