Quarry LP Has $3.70 Million Position in Edison International (NYSE:EIX)

Quarry LP grew its position in Edison International (NYSE:EIX) by 13.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 42,428 shares of the utilities provider’s stock after purchasing an additional 5,057 shares during the quarter. Edison International comprises 0.9% of Quarry LP’s portfolio, making the stock its 14th biggest holding. Quarry LP’s holdings in Edison International were worth $3,695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the 2nd quarter valued at approximately $27,000. Eastern Bank bought a new stake in shares of Edison International during the 3rd quarter valued at approximately $27,000. Country Trust Bank bought a new stake in shares of Edison International during the 2nd quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Down 0.5 %

NYSE:EIX opened at $84.33 on Thursday. The firm’s fifty day moving average is $84.84 and its 200-day moving average is $80.78. 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 has a 52 week low of $63.15 and a 52 week high of $88.77. The firm has a market cap of $32.65 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.03 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.70%. Edison International’s payout ratio is presently 91.50%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EIX shares. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $88.75.

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.