Benjamin F. Edwards & Company Inc. Buys 980 Shares of Edison International (NYSE:EIX)

Benjamin F. Edwards & Company Inc. boosted its position in Edison International (NYSE:EIX) by 9.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,038 shares of the utilities provider’s stock after purchasing an additional 980 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Edison International were worth $793,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Corient Private Wealth LLC lifted its holdings in shares of Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after purchasing an additional 175 shares during the last quarter. US Bancorp DE raised its stake in Edison International by 7.3% in the fourth quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock valued at $5,009,000 after buying an additional 4,740 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Edison International in the fourth quarter worth about $193,000. United Services Automobile Association purchased a new stake in shares of Edison International during the fourth quarter worth about $743,000. Finally, TD Asset Management Inc increased its holdings in shares of Edison International by 6.2% during the fourth quarter. TD Asset Management Inc now owns 137,873 shares of the utilities provider’s stock valued at $9,857,000 after acquiring an additional 8,040 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

NYSE:EIX opened at $85.94 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company has a 50 day moving average price of $82.82 and a 200-day moving average price of $75.81. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The firm has a market cap of $33.07 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. Edison International’s dividend payout ratio is currently 136.84%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays upped their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $94.00 price target on shares of Edison International in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.83.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’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 completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

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.