Edison International (NYSE:EIX) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its position in shares of Edison International (NYSE:EIX) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 7,668 shares of the utilities provider’s stock after buying an additional 400 shares during the period. Glenmede Trust Co. NA’s holdings in Edison International were worth $668,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Lake Street Advisors Group LLC boosted its stake in Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC raised its stake in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel boosted its holdings in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Equitable Trust Co. raised its stake in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association grew its position in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley dropped their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Down 1.2 %

EIX opened at $84.74 on Wednesday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The business has a 50-day moving average of $84.86 and a two-hundred day moving average of $80.76. The stock has a market capitalization of $32.81 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

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.