Bank of Montreal Can Acquires 34,701 Shares of Edison International (NYSE:EIX)

Bank of Montreal Can increased its holdings in shares of Edison International (NYSE:EIX) by 5.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 695,620 shares of the utilities provider’s stock after purchasing an additional 34,701 shares during the period. Bank of Montreal Can’s holdings in Edison International were worth $50,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EIX. Equitable Trust Co. lifted its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares in the last quarter. TIAA Trust National Association lifted its position in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Asset Dedication LLC increased its holdings in Edison International by 37.5% during the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. raised its stake in shares of Edison International by 0.3% in the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. 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 quarter. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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. Argus raised their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $94.00 price target on shares of Edison International in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.17.

Edison International Price Performance

NYSE:EIX opened at $85.50 on Thursday. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77. The firm has a market capitalization of $32.90 billion, a price-to-earnings ratio of 37.50, a P/E/G ratio of 1.99 and a beta of 0.91. The stock’s 50 day moving average price is $82.82 and its two-hundred day moving average price is $75.81. 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 (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.65%. Edison International’s dividend payout ratio (DPR) is presently 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.