CHURCHILL MANAGEMENT Corp Has $6.46 Million Stake in Edison International (NYSE:EIX)

CHURCHILL MANAGEMENT Corp boosted its holdings in Edison International (NYSE:EIX - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,908 shares of the utilities provider's stock after acquiring an additional 5,011 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in Edison International were worth $6,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EIX. Acadian Asset Management LLC bought a new position in shares of Edison International in the second quarter valued at about $703,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the 2nd quarter valued at about $27,000. DekaBank Deutsche Girozentrale raised its holdings in Edison International by 1.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,918 shares of the utilities provider's stock valued at $5,319,000 after acquiring an additional 1,322 shares during the period. Federated Hermes Inc. lifted its position in Edison International by 87.9% during the second quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider's stock worth $239,000 after acquiring an additional 1,556 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Edison International by 15.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,485 shares of the utilities provider's stock worth $753,000 after acquiring an additional 1,388 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of recent research reports. UBS Group lowered their target price on Edison International from $87.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday. Barclays lowered their price objective on Edison International from $84.00 to $76.00 and set an "overweight" rating on the stock in a research report on Monday. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price for the company in a research report on Wednesday. Morgan Stanley decreased their price target on shares of 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, Royal Bank of Canada lifted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.58.

Edison International Price Performance

Shares of NYSE EIX traded down $0.14 during trading hours on Thursday, hitting $61.16. 7,409,410 shares of the stock were exchanged, compared to its average volume of 7,928,246. The company's fifty day simple moving average is $80.31 and its two-hundred day simple moving average is $81.48. The company has a market cap of $23.68 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. 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 1-year low of $55.27 and a 1-year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is currently 97.07%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

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.