Global Retirement Partners LLC Buys 401 Shares of Edison International (NYSE:EIX)

Global Retirement Partners LLC increased its stake in Edison International (NYSE:EIX) by 2.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,311 shares of the utilities provider’s stock after purchasing an additional 401 shares during the period. Global Retirement Partners LLC’s holdings in Edison International were worth $1,682,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the 2nd quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new position in shares of Edison International in the 1st quarter valued at $28,000. Country Trust Bank bought a new stake in shares of Edison International during the 2nd quarter worth $29,000. Farmers & Merchants Investments Inc. boosted its stake in Edison International by 53.8% in the second 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 in the last quarter. Finally, OFI Invest Asset Management bought a new position in Edison International in the second quarter valued at about $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EIX. Evercore ISI increased their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada upped their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley lifted their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Finally, Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Edison International Stock Performance

Shares of EIX stock opened at $85.43 on Friday. The firm has a 50 day moving average of $85.31 and a 200-day moving average of $77.73. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $61.64 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Edison International will post 4.97 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 issued a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. Edison International’s dividend payout ratio is presently 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.