Edison International (NYSE:EIX) Shares Acquired by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lifted its holdings in shares of Edison International (NYSE:EIX) by 285.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 420 shares of the utilities provider’s stock after buying an additional 311 shares during the period. Raleigh Capital Management Inc.’s holdings in Edison International were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of Edison International during the third quarter valued at approximately $26,000. Groupama Asset Managment boosted its position in Edison International by 0.8% during the 3rd 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 acquired a new position in Edison International during the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC grew its stake in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Edison International in the third quarter worth $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Barclays decreased their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group cut their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Morgan Stanley decreased their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

Shares of EIX opened at $57.10 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm’s 50 day moving average is $78.19 and its 200-day moving average is $81.12. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The stock has a market capitalization of $22.11 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

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

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.