CHURCHILL MANAGEMENT Corp Acquires 5,011 Shares of Edison International (NYSE:EIX)

CHURCHILL MANAGEMENT Corp boosted its stake in Edison International (NYSE:EIX) by 6.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 80,908 shares of the utilities provider’s stock after buying an additional 5,011 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Edison International were worth $6,460,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its holdings in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel raised its stake in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. boosted its holdings in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Edison International by 2.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after purchasing an additional 159 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. UBS Group reduced their price target on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays lowered their price objective on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.96.

Edison International Stock Performance

Shares of EIX opened at $61.31 on Thursday. The stock’s 50-day simple moving average is $80.71 and its 200 day simple moving average is $81.62. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. Research analysts forecast that Edison International will post 4.94 EPS 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. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 5.40%. Edison International’s payout ratio is currently 97.07%.

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.