Ashton Thomas Private Wealth LLC Takes $27,000 Position in Edison International (NYSE:EIX)

Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International (NYSE:EIX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 371 shares of the utilities provider’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Able Wealth Management LLC acquired a new stake in Edison International in the 4th quarter valued at about $25,000. Global Trust Asset Management LLC bought a new stake in shares of Edison International in the 1st quarter worth approximately $28,000. Country Trust Bank acquired a new stake in Edison International during the second quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Edison International in the second quarter worth approximately $32,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.2 %

Edison International stock opened at $86.06 on Wednesday. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market cap of $33.11 billion, a PE ratio of 37.75 and a beta of 0.91. The firm’s 50 day moving average price is $81.65 and its two-hundred day moving average price is $75.21.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. On average, research analysts predict that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. Edison International’s payout ratio is 136.84%.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of recent research reports. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Barclays upped their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 price objective on shares of Edison International in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Edison International presently has an average rating of “Hold” and an average price target of $85.83.

Insider Buying and Selling

In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company’s stock.

Edison International Company 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.