2,539 Shares in Edison International (NYSE:EIX) Purchased by World Investment Advisors LLC

World Investment Advisors LLC acquired a new position in Edison International (NYSE:EIXFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,539 shares of the utilities provider’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter worth approximately $26,000. Groupama Asset Managment increased its position in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the second quarter valued at $27,000. Eastern Bank bought a new stake in shares of Edison International in the third quarter valued at $27,000. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Edison International by 53.8% during 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 last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on EIX. UBS Group decreased their price objective on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday. Argus lifted their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.58.

Check Out Our Latest Stock Report on Edison International

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.03% of the stock is owned by company insiders.

Edison International Price Performance

Shares of NYSE EIX opened at $77.93 on Friday. The stock’s 50-day simple moving average is $83.88 and its two-hundred day simple moving average is $81.24. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The firm has a market capitalization of $30.17 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIXGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the business earned $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

About Edison International

(Free Report)

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.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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