Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Edison International (NYSE:EIX)

Mirae Asset Global Investments Co. Ltd. boosted its position in Edison International (NYSE:EIX) by 30.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,559 shares of the utilities provider’s stock after purchasing an additional 5,955 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Edison International were worth $2,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Edison International by 12.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,508 shares of the utilities provider’s stock valued at $1,592,000 after acquiring an additional 2,431 shares during the period. Norden Group LLC bought a new stake in shares of Edison International in the 1st quarter worth approximately $369,000. First Trust Direct Indexing L.P. grew its stake in shares of Edison International by 15.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 8,248 shares of the utilities provider’s stock worth $583,000 after buying an additional 1,084 shares during the last quarter. Van ECK Associates Corp raised its stake in Edison International by 42.3% during the first quarter. Van ECK Associates Corp now owns 121,939 shares of the utilities provider’s stock valued at $8,625,000 after buying an additional 36,227 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in Edison International by 10.0% during the first quarter. Mission Wealth Management LP now owns 9,345 shares of the utilities provider’s stock valued at $661,000 after buying an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. 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 report on Wednesday, September 25th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Finally, Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.36.

Edison International Price Performance

NYSE EIX opened at $83.24 on Thursday. 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 has a 1-year low of $62.21 and a 1-year high of $88.77. The stock has a market capitalization of $32.15 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.94 and a beta of 0.91. The business’s fifty day moving average price is $85.50 and its 200-day moving average price is $78.61.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. On average, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm 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 is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.75%. Edison International’s dividend payout ratio (DPR) is 125.30%.

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.