New Age Alpha Advisors LLC Increases Stock Holdings in Edison International (NYSE:EIX)

Key Points

• New Age Alpha Advisors LLC increased its holdings in Edison International by 22.7%, owning 35,758 shares valued at approximately $2.11 million following an additional purchase of 6,620 shares.
• Edison International's latest earnings report showed an EPS of $0.97, exceeding analysts' expectations and reflecting a 4.8% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.8275, yielding 6.0%, with a payout ratio of 48.60%, benefiting investors who held shares as of July 7th.

New Age Alpha Advisors LLC increased its position in Edison International (NYSE:EIX - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,758 shares of the utilities provider's stock after acquiring an additional 6,620 shares during the quarter. New Age Alpha Advisors LLC's holdings in Edison International were worth $2,107,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in Edison International by 98.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after acquiring an additional 5,454 shares during the last quarter. Tounjian Advisory Partners LLC bought a new position in Edison International in the 1st quarter worth about $1,151,000. Wealth Enhancement Advisory Services LLC boosted its stake in Edison International by 135.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock worth $7,297,000 after purchasing an additional 71,159 shares during the period. GAMMA Investing LLC boosted its stake in Edison International by 4,157.4% in the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after purchasing an additional 141,769 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Edison International by 17.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,332 shares of the utilities provider's stock worth $6,324,000 after purchasing an additional 15,718 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Morgan Stanley cut their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Barclays increased their price objective on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of "Moderate Buy" and an average target price of $76.19.

Edison International Trading Up 2.4%

Shares of Edison International stock traded up $1.31 during midday trading on Monday, reaching $55.08. 905,913 shares of the company's stock traded hands, compared to its average volume of 4,493,800. The stock has a 50 day moving average of $51.79 and a 200-day moving average of $54.23. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The company has a market cap of $21.19 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 1.26 and a beta of 0.75. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio is currently 48.60%.

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.