Strategic Investment Advisors MI Invests $1.78 Million in Edison International $EIX

Strategic Investment Advisors MI purchased a new position in Edison International (NYSE:EIX) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,320 shares of the utilities provider’s stock, valued at approximately $1,781,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Equitable Trust Co. increased its position in Edison International by 0.8% in the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock worth $1,435,000 after buying an additional 148 shares during the period. Altshuler Shaham Ltd boosted its holdings in shares of Edison International by 36.6% during the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. boosted its holdings in shares of Edison International by 5.3% during the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 159 shares during the period. Sterling Group Wealth Management LLC grew its position in shares of Edison International by 2.7% during the first quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider’s stock worth $528,000 after acquiring an additional 190 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Edison International by 6.2% during the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock worth $201,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE EIX opened at $78.68 on Thursday. Edison International has a fifty-two week low of $51.01 and a fifty-two week high of $81.62. The firm’s 50-day simple moving average is $74.13 and its 200 day simple moving average is $70.87. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.28 billion, a P/E ratio of 8.54, a P/E/G ratio of 6.20 and a beta of 0.66.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. Edison International’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. Equities analysts expect that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s dividend payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EIX shares. Truist Financial cut their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Barclays upped their target price on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Edison International in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.64.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.