Oak Thistle LLC Purchases 6,023 Shares of Edison International (NYSE:EIX)

Oak Thistle LLC lifted its holdings in Edison International (NYSE:EIX) by 45.2% in the fourth quarter, HoldingsChannel reports. The firm owned 19,358 shares of the utilities provider’s stock after purchasing an additional 6,023 shares during the quarter. Oak Thistle LLC’s holdings in Edison International were worth $1,546,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. FMR LLC raised its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. abrdn plc raised its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after purchasing an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Edison International in the 2nd quarter worth approximately $18,484,000. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Edison International Trading Up 2.2 %

NYSE EIX opened at $58.51 on Wednesday. The company’s 50-day simple moving average is $80.71 and its two-hundred day simple moving average is $81.62. Edison International has a one year low of $55.27 and a one year high of $88.77. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. 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 (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 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 the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Equities analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.66%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Analyst Upgrades and Downgrades

EIX has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Morgan Stanley decreased their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. UBS Group cut their target price on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Barclays dropped their price objective on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.33.

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.