Edgestream Partners L.P. Takes $1.35 Million Position in Edison International (NYSE:EIX)

Edgestream Partners L.P. acquired a new stake in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,811 shares of the utilities provider’s stock, valued at approximately $1,351,000.

Several other institutional investors also recently made changes to their positions in EIX. Able Wealth Management LLC acquired a new position in shares of Edison International during the 4th quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the 2nd quarter worth $27,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank acquired a new stake in shares of Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. In the last three months, insiders sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EIX shares. UBS Group upped their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $94.00 target price on shares of Edison International in a research note on Monday, September 16th. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Barclays boosted their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their price objective on shares of Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.83.

Edison International Price Performance

NYSE EIX opened at $85.43 on Friday. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. 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 stock has a market cap of $32.99 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a 50-day moving average price of $82.32 and a two-hundred day moving average price of $75.47.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping 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 firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. Edison International’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is currently 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.