Brooklyn Investment Group Makes New $62,000 Investment in Edison International (NYSE:EIX)

Brooklyn Investment Group purchased a new position in shares of Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 713 shares of the utilities provider’s stock, valued at approximately $62,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in Edison International during the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at $27,000. Eastern Bank acquired a new position in shares of Edison International in the 3rd quarter valued at $27,000. Country Trust Bank acquired a new position in shares of Edison International in the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% in 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 in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Up 0.7 %

Shares of Edison International stock opened at $88.36 on Friday. The company has a market cap of $34.21 billion, a P/E ratio of 25.91, a PEG ratio of 2.09 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $63.15 and a one year high of $88.77. The firm has a fifty day moving average of $84.84 and a two-hundred day moving average of $80.46.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business earned $1.38 earnings per share. Edison International’s revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced 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 was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated 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 through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Argus increased their price target 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. Finally, Barclays increased their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.