2,590 Shares in Edison International (NYSE:EIX) Bought by Summit Global Investments

Summit Global Investments purchased a new stake in shares of Edison International (NYSE:EIX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,590 shares of the utilities provider’s stock, valued at approximately $226,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC increased its position in shares of 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 valued at $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC grew its position in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel raised its stake in shares of 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 acquiring an additional 130 shares in 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 worth $1,108,000 after acquiring an additional 132 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake 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 in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 2.0 %

Shares of NYSE EIX opened at $83.10 on Monday. The firm has a fifty day simple moving average of $84.99 and a two-hundred day simple moving average of $79.24. Edison International has a 12 month low of $62.21 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 firm has a market capitalization of $32.17 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Activity

In related news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,878 shares of company stock worth $4,285,422. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on EIX shares. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. 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 target price for the company. Barclays raised their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.