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

Southland Equity Partners LLC increased its holdings in Edison International (NYSE:EIX) by 29.5% in the 4th quarter, HoldingsChannel reports. The fund owned 16,318 shares of the utilities provider’s stock after purchasing 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 quarter.

Several other hedge funds also recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the third quarter valued at $26,000. Groupama Asset Managment boosted its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Eastern Bank purchased a new position in Edison International in the third quarter valued at $27,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Edison International during the 3rd quarter worth approximately $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $57.10 on Friday. The stock has a fifty day moving average price of $78.19 and a 200 day moving average price of $81.12. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $22.11 billion, a PE ratio of 16.75, a P/E/G ratio of 1.20 and a beta of 0.93. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 EPS. Sell-side analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.80%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays cut their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company lifted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Finally, UBS Group cut their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities 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. Based on data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

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.