Edison International (NYSE:EIX) VP Adam S. Umanoff Sells 25,619 Shares of Stock

Edison International (NYSE:EIX) VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at this link.

Edison International Stock Down 0.2 %

EIX stock opened at $81.00 on Tuesday. The business has a 50 day moving average of $85.31 and a 200 day moving average of $78.98. The firm has a market cap of $31.36 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. Edison International has a twelve month low of $62.21 and a twelve month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.85%. Edison International’s payout ratio is 91.50%.

Institutional Investors Weigh In On Edison International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new position in shares of Edison International during the 3rd quarter valued at $26,000. Eastern Bank purchased a new stake in Edison International during the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International in the second quarter worth about $27,000. Concord Wealth Partners boosted its position in Edison International by 277.0% in the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares during the last quarter. Finally, Country Trust Bank bought a new stake in shares of Edison International during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EIX. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays boosted their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Finally, 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 report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.36.

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.