Edison International $EIX Holdings Lifted by Candriam S.C.A.

Candriam S.C.A. raised its position in Edison International (NYSE:EIX) by 12.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,699 shares of the utilities provider’s stock after purchasing an additional 9,450 shares during the period. Candriam S.C.A.’s holdings in Edison International were worth $4,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. J. Derek Lewis & Associates Inc. lifted its position in shares of Edison International by 17.1% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 11,569 shares of the utilities provider’s stock worth $622,000 after purchasing an additional 1,690 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Edison International by 47.0% during the third quarter. Pictet Asset Management Holding SA now owns 537,384 shares of the utilities provider’s stock worth $28,874,000 after purchasing an additional 171,866 shares in the last quarter. Alps Advisors Inc. increased its holdings in Edison International by 34.7% in the third quarter. Alps Advisors Inc. now owns 578,571 shares of the utilities provider’s stock valued at $31,087,000 after buying an additional 149,187 shares during the last quarter. CenterBook Partners LP purchased a new position in Edison International in the third quarter valued at $614,000. Finally, Calamos Advisors LLC increased its holdings in Edison International by 2.1% in the third quarter. Calamos Advisors LLC now owns 82,688 shares of the utilities provider’s stock valued at $4,443,000 after buying an additional 1,673 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EIX. HSBC assumed coverage on Edison International in a research note on Thursday, October 22nd. They issued a “hold” rating and a $56.50 price target on the stock. Weiss Ratings cut Edison International from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. Argus cut Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $81.00 to $51.00 in a report on Tuesday, September 1st. Finally, Truist Financial cut their target price on Edison International from $63.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $60.58.

Edison International Trading Up 0.1%

Shares of Edison International stock opened at $60.20 on Wednesday. The company has a fifty day simple moving average of $56.34 and a 200-day simple moving average of $67.69. Edison International has a 12-month low of $51.10 and a 12-month high of $81.62. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 2.01. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 2.54 and a beta of 0.56.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, October 29th. The utilities provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.81 by $0.11. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period last year, the business earned $2.34 EPS. Edison International’s revenue for the quarter was down 15.0% compared to the same quarter last year. On average, equities analysts forecast that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.8%. The ex-dividend date was Wednesday, October 7th. Edison International’s dividend payout ratio is currently 37.30%.

Insider Activity

In other Edison International news, Director Peter Taylor sold 500 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the transaction, the director owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Edison International Profile

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.