Centre Asset Management LLC Buys 199 Shares of Edison International (NYSE:EIX)

Centre Asset Management LLC boosted its position in shares of Edison International (NYSE:EIX) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,656 shares of the utilities provider’s stock after purchasing an additional 199 shares during the period. Centre Asset Management LLC’s holdings in Edison International were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the third quarter worth about $26,000. Groupama Asset Managment grew its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the second quarter valued at approximately $27,000. Eastern Bank bought a new stake in shares of Edison International in the third quarter worth $27,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock traded up $0.76 during midday trading on Friday, hitting $80.77. 128,676 shares of the company were exchanged, compared to its average volume of 726,042. The firm has a market capitalization of $31.27 billion, a P/E ratio of 23.69, a PEG ratio of 1.96 and a beta of 0.92. 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 52 week low of $63.15 and a 52 week high of $88.77. The firm’s 50 day moving average price is $82.84 and its two-hundred day moving average price is $81.62.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 earnings per share. As a group, equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.10%. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Analyst Ratings Changes

Several equities research analysts have issued reports on EIX shares. Barclays upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $91.00 to $84.00 in a research note on Thursday. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Argus upped their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.03% of the company’s stock.

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.