Harbor Capital Advisors Inc. Acquires 234 Shares of Edison International (NYSE:EIX)

Harbor Capital Advisors Inc. lifted its stake in Edison International (NYSE:EIX) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,578 shares of the utilities provider’s stock after purchasing an additional 234 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Edison International were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EIX. State Street Corp boosted its holdings in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC boosted its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its position in Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Clearbridge Investments LLC increased its stake in Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after buying an additional 28,240 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EIX shares. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Morgan Stanley reduced their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays lowered their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Insider Activity

In other Edison International 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 transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $57.09 on Tuesday. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. 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 firm has a 50 day moving average of $81.18 and a 200 day moving average of $81.71.

Edison International (NYSE:EIX) last issued its quarterly earnings data 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The company’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 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

About Edison International

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.