Geode Capital Management LLC Has $835.14 Million Stock Position in Edison International (NYSE:EIX)

Geode Capital Management LLC grew its stake in shares of Edison International (NYSE:EIX - Free Report) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,620,520 shares of the utilities provider's stock after buying an additional 210,461 shares during the quarter. Geode Capital Management LLC owned about 2.48% of Edison International worth $835,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in Edison International in the 3rd quarter valued at about $26,000. Groupama Asset Managment boosted its holdings in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after buying an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the second quarter worth approximately $27,000. Eastern Bank acquired a new stake in shares of Edison International during the 3rd quarter valued at $27,000. Finally, Farmers & Merchants Investments Inc. lifted its holdings in shares of Edison International by 53.8% during the second 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on EIX shares. Barclays upped their price target on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target 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. Morgan Stanley dropped their price objective 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. Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Finally, UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average target price of $88.75.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business'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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

EIX stock traded up $0.04 on Thursday, reaching $81.62. 1,430,027 shares of the company were exchanged, compared to its average volume of 2,033,000. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The stock's fifty day moving average price is $84.46 and its 200 day moving average price is $81.06. The firm has a market capitalization of $31.60 billion, a PE ratio of 23.96, a PEG ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the firm earned $1.38 EPS. Edison International's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.06%. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's dividend payout ratio (DPR) is 91.50%.

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.