1,206 Shares in Edison International (NYSE:EIX) Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. acquired a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,206 shares of the utilities provider’s stock, valued at approximately $105,000.

A number of other institutional investors have also added to or reduced their stakes in EIX. abrdn plc increased its position in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after acquiring an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after acquiring an additional 272,876 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Edison International during the 2nd quarter worth approximately $18,484,000. Finally, Swedbank AB bought a new stake in Edison International during the 1st quarter worth approximately $17,918,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EIX. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada increased their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, 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 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Edison International Stock Up 0.7 %

EIX opened at $88.36 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The firm has a 50-day simple moving average of $84.84 and a two-hundred day simple moving average of $80.46. The company has a market capitalization of $34.21 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. Analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.53%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Edison International 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.