Edison International (NYSE:EIX) Shares Bought by Twin City Private Wealth LLC

Key Points

• Twin City Private Wealth LLC increased its holdings in Edison International by 40.4% during the first quarter, now owning 22,716 shares valued at $1,338,000.
• Several hedge funds, including Canada Pension Plan Investment Board and Ameriprise Financial Inc., significantly increased their stakes in Edison International, indicating strong institutional support.
• Edison International's recent earnings report showed EPS of $0.97, beating estimates, with a revenue increase of 4.8% year-over-year.

Twin City Private Wealth LLC raised its stake in shares of Edison International (NYSE:EIX - Free Report) by 40.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,716 shares of the utilities provider's stock after purchasing an additional 6,534 shares during the period. Twin City Private Wealth LLC's holdings in Edison International were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S grew its stake in Edison International by 0.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 218 shares in the last quarter. KWB Wealth lifted its holdings in shares of Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock worth $869,000 after buying an additional 218 shares during the period. Private Advisor Group LLC grew its position in shares of Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after buying an additional 254 shares in the last quarter. Investment Management Corp VA ADV grew its position in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after buying an additional 265 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Edison International by 11.5% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EIX. Morgan Stanley decreased their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Barclays boosted their price target on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $76.19.

Edison International Stock Down 2.2%

Edison International stock traded down $1.19 during midday trading on Friday, reaching $53.75. The company's stock had a trading volume of 4,797,568 shares, compared to its average volume of 3,802,409. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a market capitalization of $20.68 billion, a P/E ratio of 7.89, a PEG ratio of 1.29 and a beta of 0.75. The stock's 50-day simple moving average is $51.83 and its 200-day simple moving average is $54.34. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International's revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. On average, sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

Edison International Company Profile

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.