Loomis Sayles & Co. L P Raises Stock Holdings in Edison International (NYSE:EIX)

Loomis Sayles & Co. L P grew its stake in Edison International (NYSE:EIX) by 4,668.5% during the 3rd quarter, Holdings Channel reports. The fund owned 8,774 shares of the utilities provider’s stock after acquiring an additional 8,590 shares during the period. Loomis Sayles & Co. L P’s holdings in Edison International were worth $764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. Highline Wealth Partners LLC acquired a new position in Edison International in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the second quarter valued at $27,000. Eastern Bank acquired a new position in Edison International in the third quarter valued at $27,000. Country Trust Bank acquired a new position in Edison International in the second quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX stock opened at $88.39 on Thursday. 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 has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a market cap of $34.22 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The stock has a 50-day simple moving average of $84.76 and a 200-day simple moving average of $80.41.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 earnings per share. On average, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was 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 this link. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. 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 research note on Friday, November 22nd. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.