Edison International (NYSE:EIX) Position Boosted by Swiss National Bank

Swiss National Bank raised its position in shares of Edison International (NYSE:EIX) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,141,900 shares of the utilities provider’s stock after purchasing an additional 2,900 shares during the quarter. Swiss National Bank owned about 0.29% of Edison International worth $99,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. abrdn plc boosted 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 valued at $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Capital International Investors boosted its stake in Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted 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 valued at $68,081,000 after purchasing an additional 422,752 shares in the last quarter. Capital Research Global Investors boosted its stake in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EIX shares. Guggenheim raised their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Evercore ISI raised their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Finally, Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,878 shares of company stock valued at $4,285,422 over the last three months. 1.03% of the stock is currently owned by insiders.

Edison International Price Performance

Shares of NYSE:EIX opened at $84.08 on Tuesday. 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 has a 1 year low of $63.15 and a 1 year high of $88.77. The business has a fifty day simple moving average of $84.51 and a 200 day simple moving average of $79.80. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 2.00 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its 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 for 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 business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is 91.50%.

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.