Wedmont Private Capital Takes Position in Edison International (NYSE:EIX)

Wedmont Private Capital purchased a new position in shares of Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,398 shares of the utilities provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Able Wealth Management LLC bought a new stake in shares of Edison International in the 4th quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the 2nd quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the 1st quarter valued at about $28,000. Country Trust Bank bought a new position in shares of Edison International during the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted 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 worth $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 0.7 %

Shares of EIX stock opened at $83.61 on Monday. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 1.92 and a beta of 0.91. The company’s fifty day simple moving average is $84.94 and its two-hundred day simple moving average is $77.32. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 125.30%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 in the last three months. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EIX has been the subject of a number of research analyst reports. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Morgan Stanley increased their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus target price of $86.67.

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.