3,200 Shares in Edison International (NYSE:EIX) Bought by Dakota Wealth Management

Dakota Wealth Management purchased a new stake in Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,200 shares of the utilities provider’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIX. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International during the 2nd quarter valued at approximately $27,000. Eastern Bank bought a new position in Edison International during the third quarter worth $27,000. Country Trust Bank acquired a new position in Edison International in the second quarter valued at $29,000. Farmers & Merchants Investments Inc. boosted its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Edison International during the 2nd quarter worth about $32,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EIX has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Barclays lowered their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Evercore ISI increased their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Price Performance

Shares of NYSE EIX opened at $84.48 on Tuesday. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.94 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a fifty-two week low of $62.09 and a fifty-two week high of $88.77. The firm’s 50-day simple moving average is $85.54 and its 200 day simple moving average is $78.48.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.69%. Edison International’s payout ratio is 125.30%.

Insider Buying and Selling

In other news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,104 shares of company stock worth $4,949,264. 1.20% of the stock is owned by corporate 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.