Federated Hermes Inc. Has $239,000 Stock Position in Edison International (NYSE:EIX)

Federated Hermes Inc. raised its stake in Edison International (NYSE:EIX) by 87.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,326 shares of the utilities provider’s stock after purchasing an additional 1,556 shares during the quarter. Federated Hermes Inc.’s holdings in Edison International were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Able Wealth Management LLC purchased a new stake in shares of Edison International in the fourth quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the second quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International in the first quarter worth approximately $28,000. Country Trust Bank purchased a new stake in shares of Edison International in the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Edison International by 53.8% in the second 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 in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Guggenheim increased their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley raised their price target on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Finally, Argus lifted 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.83.

Edison International Price Performance

Shares of Edison International stock opened at $85.94 on Wednesday. Edison International has a one year low of $58.82 and a one year high of $88.77. The stock’s fifty day moving average is $82.82 and its 200 day moving average is $75.81. The stock has a market cap of $33.07 billion, a P/E ratio of 37.69, a P/E/G ratio of 1.99 and a beta of 0.91. 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 (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business posted $1.01 EPS. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.97 earnings per share 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 paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. Edison International’s payout ratio is presently 136.84%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

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.