Ballentine Partners LLC Takes Position in Edison International (NYSE:EIX)

Ballentine Partners LLC bought a new stake in shares of Edison International (NYSE:EIX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,305 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the 2nd quarter worth $27,000. Eastern Bank purchased a new position in Edison International during the third quarter worth approximately $27,000. Country Trust Bank purchased a new stake in shares of Edison International in the 2nd quarter valued at $29,000. Farmers & Merchants Investments Inc. raised its holdings 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 valued at $29,000 after buying an additional 140 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Edison International during the 2nd quarter worth $32,000. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Barclays reduced their target price on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Morgan Stanley upped their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.55.

Edison International Price Performance

NYSE EIX opened at $83.14 on Wednesday. The stock has a market capitalization of $32.11 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.94 and a beta of 0.91. Edison International has a 1 year low of $62.09 and a 1 year high of $88.77. The business’s fifty day moving average is $85.52 and its two-hundred day moving average is $78.58. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is currently 125.30%.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of Edison International 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 completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently 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.