Jupiter Asset Management Ltd. Purchases New Position in Edison International (NYSE:EIX)

Jupiter Asset Management Ltd. purchased a new stake in Edison International (NYSE:EIX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 75,437 shares of the utilities provider’s stock, valued at approximately $5,237,000.

Several other large investors have also recently added to or reduced their stakes in EIX. Fiduciary Alliance LLC acquired a new stake in shares of Edison International during the second quarter valued at about $25,000. Capital Analysts LLC grew its stake in shares of Edison International by 64.0% during the first quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 171 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Edison International during the second quarter valued at about $36,000. Ancora Advisors LLC acquired a new stake in shares of Edison International during the first quarter valued at about $41,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Edison International by 61.4% during the first quarter. First Horizon Advisors Inc. now owns 615 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 234 shares in the last quarter. 88.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In other news, SVP Caroline Choi sold 11,222 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $71.64, for a total value of $803,944.08. Following the completion of the transaction, the senior vice president now owns 20,881 shares of the company’s stock, valued at $1,495,914.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EIX. Morgan Stanley reduced their price target on shares of Edison International from $53.00 to $52.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 25th. Evercore ISI raised shares of Edison International from an “in-line” rating to an “outperform” rating and reduced their price target for the stock from $74.00 to $68.00 in a research report on Monday, October 23rd. StockNews.com began coverage on shares of Edison International in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho raised shares of Edison International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $75.00 in a research report on Tuesday, August 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $81.00 price target on shares of Edison International in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.33.

Edison International Stock Performance

EIX opened at $65.93 on Friday. Edison International has a twelve month low of $58.82 and a twelve month high of $74.92. The stock has a market cap of $25.29 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.80 and a beta of 0.86. The business’s 50 day moving average is $65.09 and its 200-day moving average is $68.01. The company has a current ratio of 0.80, a quick ratio of 0.75 and a debt-to-equity ratio of 1.89.

Edison International (NYSE:EIX) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.08). Edison International had a net margin of 8.75% and a return on equity of 12.79%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm earned $1.48 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. On average, analysts predict that Edison International will post 4.71 earnings per share for the current year.

Edison International Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a $0.7375 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.95 annualized dividend and a dividend yield of 4.47%. Edison International’s payout ratio is 91.90%.

Edison International Profile

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.