Raymond James & Associates Purchases 23,441 Shares of Edison International (NYSE:EIX)

Raymond James & Associates boosted its position in Edison International (NYSE:EIX) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 403,309 shares of the utilities provider’s stock after acquiring an additional 23,441 shares during the period. Raymond James & Associates owned 0.10% of Edison International worth $35,124,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EIX. Capital Research Global Investors boosted its stake in shares of Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares in the last quarter. Capital International Investors boosted its stake in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of 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, American Century Companies Inc. boosted its stake in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $86.00 on Thursday. The firm has a 50 day moving average of $85.47 and a 200 day moving average of $78.11. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. Edison International has a 12-month low of $61.64 and a 12-month high of $88.77.

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

Edison International Dividend Announcement

The company 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 $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. Edison International’s payout ratio is currently 136.84%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value 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 $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last three months. 1.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EIX shares. Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Guggenheim lifted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.55.

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.