Twin City Private Wealth LLC Grows Stock Holdings in Edison International (NYSE:EIX)

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 increased its holdings in Edison International (NYSE:EIX - Free Report) by 40.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,716 shares of the utilities provider's stock after acquiring an additional 6,534 shares during the quarter. Twin City Private Wealth LLC's holdings in Edison International were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock valued at $412,246,000 after buying an additional 371,043 shares during the last quarter. Invesco Ltd. raised its position in shares of Edison International by 38.2% during the fourth quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock valued at $384,560,000 after buying an additional 1,331,941 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Edison International by 364.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after buying an additional 2,643,571 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Edison International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after buying an additional 1,673,204 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Edison International Trading Down 2.2%

Shares of NYSE EIX traded down $1.19 during mid-day trading on Friday, reaching $53.75. The company had a trading volume of 4,797,568 shares, compared to its average volume of 3,802,409. The business's 50-day moving average is $51.79 and its 200-day moving average is $54.25. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 1.26 and a beta of 0.75. 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 posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a $0.8275 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. Edison International's dividend payout ratio is 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.