Townsquare Capital LLC Purchases 2,009 Shares of Edison International (NYSE:EIX)

Townsquare Capital LLC raised its position in shares of Edison International (NYSE:EIX) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 63,187 shares of the utilities provider’s stock after buying an additional 2,009 shares during the quarter. Townsquare Capital LLC’s holdings in Edison International were worth $5,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EIX. FMR LLC boosted its holdings in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. abrdn plc boosted its stake in shares of Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after acquiring an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of 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 acquiring an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after purchasing an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Edison International in the 2nd quarter worth $18,484,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $88.36 on Friday. The stock’s 50-day simple moving average is $84.84 and its 200-day simple moving average is $80.46. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The company has a market capitalization of $34.21 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.11 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.53%. Edison International’s dividend payout ratio is currently 91.50%.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available through this link. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Finally, Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Edison International 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.