Raleigh Capital Management Inc. Has $34,000 Stock Holdings in Edison International (NYSE:EIX)

Raleigh Capital Management Inc. raised its stake in shares of Edison International (NYSE:EIX) by 285.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 420 shares of the utilities provider’s stock after buying an additional 311 shares during the period. Raleigh Capital Management Inc.’s holdings in Edison International were worth $34,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EIX. Hennion & Walsh Asset Management Inc. acquired a new stake in Edison International during the fourth quarter valued at $235,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Edison International during the 3rd quarter worth about $1,387,000. CHURCHILL MANAGEMENT Corp raised its stake in shares of Edison International by 6.6% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock worth $6,460,000 after purchasing an additional 5,011 shares in the last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of Edison International by 54.7% during the 4th quarter. Ameritas Advisory Services LLC now owns 27,200 shares of the utilities provider’s stock valued at $2,172,000 after buying an additional 9,612 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Edison International by 5.2% in the 3rd quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock valued at $26,973,000 after buying an additional 15,181 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of NYSE EIX opened at $57.10 on Friday. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77. The company has a market cap of $22.11 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.20 and a beta of 0.93. The business’s 50 day moving average is $78.19 and its two-hundred day moving average is $81.12. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its earnings results 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. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Edison International’s revenue was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost 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

A number of research firms have issued reports on EIX. Morgan Stanley reduced their target price 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. Barclays reduced their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is owned by company insiders.

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.