Northwest & Ethical Investments L.P. Has $10.56 Million Holdings in Edison International (NYSE:EIX)

Northwest & Ethical Investments L.P. reduced its position in shares of Edison International (NYSE:EIX) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,246 shares of the utilities provider’s stock after selling 46,291 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Edison International were worth $10,559,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EIX. FMR LLC grew its holdings in shares of Edison International by 8.7% during the third 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 grew its stake in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after acquiring an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Edison International by 117.8% in the 3rd 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 position in shares of Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after purchasing an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Edison International during the second quarter worth approximately $18,484,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 through this link. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EIX shares. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Price Performance

NYSE EIX opened at $88.36 on Friday. The stock has a 50-day simple moving average of $84.84 and a 200 day simple moving average of $80.46. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock has a market capitalization of $34.21 billion, a PE ratio of 25.91, a P/E/G ratio of 2.11 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 (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $1.38 earnings per share. Research analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

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.