Stablepoint Partners LLC Increases Stake in Edison International (NYSE:EIX)

Stablepoint Partners LLC boosted its position in Edison International (NYSE:EIX) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 53,975 shares of the utilities provider’s stock after buying an additional 379 shares during the quarter. Stablepoint Partners LLC’s holdings in Edison International were worth $4,309,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EIX. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Edison International in the 4th quarter worth about $235,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the 3rd quarter valued at $1,387,000. Sound Income Strategies LLC lifted its holdings in Edison International by 5.9% in the fourth quarter. Sound Income Strategies LLC now owns 195,788 shares of the utilities provider’s stock valued at $15,632,000 after acquiring an additional 10,863 shares during the period. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Edison International by 6.6% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock worth $6,460,000 after buying an additional 5,011 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Edison International by 54.7% during the 4th quarter. Ameritas Advisory Services LLC now owns 27,200 shares of the utilities provider’s stock worth $2,172,000 after acquiring an additional 9,612 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Finally, Barclays decreased their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Up 2.5 %

NYSE:EIX opened at $58.71 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. Edison International has a 1-year low of $55.27 and a 1-year high of $88.77. The company has a 50-day moving average of $77.19 and a 200 day moving average of $80.86. The firm has a market cap of $22.73 billion, a PE ratio of 17.22, a price-to-earnings-growth 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 EPS for the quarter, beating 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, 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. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

About Edison International

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.