Aristeia Capital L.L.C. Invests $519,000 in Edison International (NYSE:EIX)

Aristeia Capital L.L.C. acquired a new stake in Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,223 shares of the utilities provider’s stock, valued at approximately $519,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Able Wealth Management LLC purchased a new position in shares of Edison International during the 4th quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter worth about $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International in the 1st quarter worth about $28,000. Country Trust Bank purchased a new stake in Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake 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 acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIX. Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Argus upped their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley increased their target price on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.83.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by corporate insiders.

Edison International Stock Performance

Edison International stock opened at $86.08 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a one year low of $58.82 and a one year high of $88.77. The stock’s 50 day moving average price is $82.58 and its 200 day moving average price is $75.70. The firm has a market capitalization of $33.12 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is 136.84%.

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.