2,817 Shares in Edison International (NYSE:EIX) Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC acquired a new position in shares of Edison International (NYSE:EIX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,817 shares of the utilities provider’s stock, valued at approximately $245,000.

A number of other large investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new stake in shares of Edison International during the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the 2nd quarter valued at $27,000. Eastern Bank acquired a new stake in shares of Edison International in the 3rd quarter valued at $27,000. 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 purchasing an additional 140 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 0.3 %

EIX stock opened at $82.80 on Wednesday. The stock’s 50 day simple moving average is $84.67 and its 200 day simple moving average is $80.99. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market cap of $32.05 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EIX. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI raised their price target 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. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.