Tidal Investments LLC Has $1.63 Million Stock Position in Edison International (NYSE:EIX)

Tidal Investments LLC raised its position in Edison International (NYSE:EIX) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,719 shares of the utilities provider’s stock after acquiring an additional 476 shares during the period. Tidal Investments LLC’s holdings in Edison International were worth $1,630,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EIX. FMR LLC raised its holdings in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares in the last quarter. abrdn plc raised its holdings in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after acquiring an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Edison International by 117.8% in 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew 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 valued at $22,884,000 after purchasing an additional 272,876 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Edison International in the 2nd quarter worth approximately $18,484,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.9 %

EIX stock opened at $80.47 on Wednesday. The business has a fifty day moving average price of $84.11 and a 200 day moving average price of $81.29. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The stock has a market capitalization of $31.15 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.96 and a beta of 0.92. 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 (NYSE:EIX) last released its 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. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. Analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

Analyst Ratings Changes

EIX has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

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.