Edison International (NYSE:EIX) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC reduced its position in Edison International (NYSE:EIX) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,556 shares of the utilities provider’s stock after selling 139 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Edison International were worth $1,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lake Street Advisors Group LLC lifted its holdings in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel lifted its holdings in shares of Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the last quarter. Finally, TIAA Trust National Association lifted its holdings in shares of Edison International by 2.0% in the 2nd 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 during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $88.36 on Friday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $34.21 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. The company has a 50-day moving average of $84.84 and a two-hundred day moving average of $80.46.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.53%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EIX. Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Argus boosted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

About Edison International

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.