St. Clair Advisors LLC Takes $399,000 Position in Edison International (NYSE:EIX)

St. Clair Advisors LLC bought a new position in Edison International (NYSE:EIX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,000 shares of the utilities provider’s stock, valued at approximately $399,000.

Other institutional investors have also modified their holdings of the company. Swedbank AB raised its stake in shares of Edison International by 3.3% during the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International during the 4th quarter valued at about $235,000. KBC Group NV grew its position in shares of Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc grew its position in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after acquiring an additional 76,654 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 1.8%

EIX stock opened at $58.62 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The business’s 50-day moving average is $56.81 and its 200 day moving average is $65.07. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company posted $1.13 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 46.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Barclays raised their target price on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Edison International in a report on Thursday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.96.

Edison International 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.