Aristeia Capital L.L.C. Acquires New Position in Edison International (NYSE:EIX)

Aristeia Capital L.L.C. bought a new position in Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,223 shares of the utilities provider’s stock, valued at approximately $519,000.

Other hedge funds also recently made changes to their positions in the company. Able Wealth Management LLC bought a new position in Edison International during the fourth quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International in the 2nd quarter worth about $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank acquired a new position in shares of Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. grew its position 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 buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

EIX stock opened at $86.08 on Tuesday. The company has a 50-day simple moving average of $82.58 and a 200 day simple moving average of $75.70. The company has a market capitalization of $33.12 billion, a P/E ratio of 37.75, a PEG ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping 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 analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed 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 3.62%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. Barclays raised their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Guggenheim boosted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus price target of $85.83.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO J Andrew Murphy sold 1,362 shares of the business’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 sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owns 6,338 shares of the company’s stock, valued at $507,040. 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 90 days. 1.03% of the stock is currently owned by company insiders.

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.